Shared by
Boston
I was 1/3 on this stock today because I made the mistake of getting in too early when the stock was bouncing. In a way I was chasing and my risk was really far away from the last low. I got out breakeven because I knew it was a bad entry.
After the stock consolidated a little bit, I re-entered with a small position to feel out the stock with a stop at the low of the mini channel/consolidation. Again I got stopped out because the stock wasn't ready and I was rushing it. Not letting the setup form naturally.
When the look finally appeared and the stock made a higher low, also bouncing off support, I started to add until it broke the previous high. This was also a nice looking flag patter at this point. Target was HOD, but the $130.00 is a big psychological area, so I decided to take 1/3 off there and then scale out as my target was hit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-05-18 10:03:38 | INCY | buy | $128.660 | long |
| 2017-05-18 10:06:27 | INCY | sell | $128.620 | 0 |
| 2017-05-18 10:10:08 | INCY | buy | $128.580 | long |
| 2017-05-18 10:13:23 | INCY | sell | $127.860 | 0 |
| 2017-05-18 10:15:40 | INCY | buy | $128.400 | long |
| 2017-05-18 10:16:42 | INCY | buy | $128.570 | long |
| 2017-05-18 10:17:08 | INCY | buy | $128.960 | long |
| 2017-05-18 10:27:10 | INCY | sell | $129.930 | long |
| 2017-05-18 10:34:45 | INCY | sell | $130.400 | long |
| 2017-05-18 10:35:42 | INCY | sell | $130.680 | long |
| 2017-05-18 10:37:24 | INCY | sell | $131.640 | long |
| 2017-05-18 10:37:43 | INCY | sell | $131.190 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!