$9.65 had been a significant inflection point for the previous day so when it held the morning dip and volume came in around that area I decided to give it a shot. I had a stop around $9.50 under the base of the rising trendline. As I normally do I quickly scalped half to lock in profit and then waited for an opportunity to add back once it confirmed its direction. I found that confirmation on the push through $10.00 but unfortunately I kinda chickened out since it was up so high. I should have had more confidence in the pattern, as it could have been a $750 trade instead of a $350 trade. Here is a more descriptive chart:
1500 shares
+$363.54 (4.75%)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-09-25 10:48:27 | FU | buy | $9.690 | long |
2013-09-25 10:48:27 | FU | buy | $9.690 | long |
2013-09-25 10:51:59 | FU | sell | $9.791 | long |
2013-09-25 10:51:59 | FU | sell | $9.790 | long |
2013-09-25 10:51:59 | FU | sell | $9.790 | long |
2013-09-25 11:07:40 | FU | buy | $9.970 | long |
2013-09-25 11:07:40 | FU | buy | $9.970 | long |
2013-09-25 11:09:35 | FU | sell | $10.050 | long |
2013-09-25 11:17:06 | FU | sell | $10.180 | long |
2013-09-25 11:17:06 | FU | sell | $10.150 | 0 |
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Nice entry, perfect!