This was a very good looking chart pattern. I was originally bummed when the pullback went all the way back down to LOD, but then it bounced and started to consolidate. This also had a really hot daily chart breaking out over a huge level of resistance. I really thought this would have the power to move to $15.00 or even higher because of the hot daily chart, and the intraday flag pattern. The only problem was there was not news/catalyst for this so it didn't have that driving it.
My entry was very good risking off of $14.60 which was the last low. This tapped $14.80 a few times but couldn't break it. It went sideways for about 20 minutes and when it broke under that consolidation, I had to get out for a very small win. The setup had potential, just didn't play out this time.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-06-26 11:08:42 | AFSI | buy | $14.700 | long |
2017-06-26 11:10:31 | AFSI | buy | $14.680 | long |
2017-06-26 11:12:52 | AFSI | buy | $14.700 | long |
2017-06-26 11:13:11 | AFSI | buy | $14.720 | long |
2017-06-26 11:58:11 | AFSI | sell | $14.750 | 0 |
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