This is one of my infamous scalps right before I have to leave for work. I only do these if I can use a very tight stop.
My Thesis was correct. Resistance was at $12.70. I got in, in anticipation of the breakout over that $12.70 mark, and I did so early, before confirmation....at $12.68 so I could have a very tight stop considering the time I had left.
I set a range order on this with a tight stop. My stop was .03 cents away at $12.65 and my sell order was looking for just a .12 cents move is all, to $12.80. (BC I literally had 8 minutes before I had to leave my house when I entered this one.)
This played out just like I expected but it took too long, I had to leave for work (I have to leave by 11:30 est, I exited this at 11:41 so I was already 11 minutes late and counting.....so yeah....I just closed it for a scratch...then exactly 21 minutes later it hit my target. Oh well I knew when I got in it might not pan out in the time frame so the important thing was that I had a very tight stop before taking the risk.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-08-24 11:22:18 | FTR | buy | $12.685 | long |
2017-08-24 11:41:35 | FTR | sell | $12.690 | 0 |
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