Shared by
Boston
I saw a bull flag formation on both the 1 min and 5 min chart. TSLA was also at all time highs so I was thinking this could have a big breakout. The market was very bearish in the morning and although I felt like there were breakout buyers, the market wasn't cooperating and the trade didn't work how I wanted it to. My first target was around $383.00 and it almost hit it, but then it sold off. I set my stop at breakeven, and I got stopped out by a few pennies... Very frustrating but better than turning this trade into a losing trade. The stock never hit my target so I'm still happy with this trade and feel like I did the right thing.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-06-14 09:56:11 | TSLA | buy | $379.990 | long |
| 2017-06-14 09:56:22 | TSLA | buy | $380.100 | long |
| 2017-06-14 09:56:46 | TSLA | buy | $380.640 | long |
| 2017-06-14 10:15:38 | TSLA | sell | $380.250 | 0 |
Comments
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Patience is great to have, but sometimes not so much once you're already in the trade. 382 looks like it would have been a perfectly reasonable initial target because it matched up with the opening high so there was a high chance of price action stalling there.