This stock gapped up with no resistance overhead which is why I was long biased. I saw that this was bearish right at the open, but looked like it was going to come back and break the high right at the open in the first few candles. I got in small size ready to add, but it never broke and I had to stop out. But the bulls eventually came back and I was looking for an entry over the HOD for the breakout. This consolidated nicely on the 1 min chart, forming a nice looking pattern for a breakout and I scaled in accordingly. On the 5 min chart, this looked a little over extended, but there was at least one 5 min candle that consolidated before it broke which is why I was comfortable taking this.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-05-10 09:36:55 | COHR | buy | $245.720 | long |
2017-05-10 09:37:14 | COHR | sell | $245.280 | long |
2017-05-10 09:38:15 | COHR | sell | $245.080 | 0 |
2017-05-10 10:08:40 | COHR | buy | $248.750 | long |
2017-05-10 10:09:28 | COHR | buy | $249.310 | long |
2017-05-10 10:16:06 | COHR | sell | $252.320 | long |
2017-05-10 10:16:15 | COHR | sell | $252.450 | long |
2017-05-10 10:17:36 | COHR | sell | $251.980 | long |
2017-05-10 10:19:34 | COHR | sell | $252.210 | long |
2017-05-10 10:21:07 | COHR | sell | $252.420 | long |
2017-05-10 10:21:17 | COHR | sell | $251.750 | 0 |
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