The 1min pullback was a better choice for this stock as it seems. I've entered the stock at the 5min pullback when it and broke the pullback and made a new high. The potential for a good trade. The level 2 was promising and it finally broke that heavy resistance at $5.56. It could not hold and I've cut losses at the bottom of the red candle.
1min chart play would be: Enter at the first pullback at $5.46 and a stop-loss at the first new low which should be: $5.52 for an 8cent gain. Or get the Red-Green move which would be an entry at $5.47
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-05-08 09:56:00 | CHK | buy | $5.560 | long |
2017-05-08 10:26:46 | CHK | sell | $5.500 | 0 |
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