Purchased at the bottom of a flag formation.
3.77 20SMA
3.85 bottom of first dip on the flag formation
4.20 Buy In
3.70 Stop Loss
5.20 Target
250 Max Loss
119.95 Profit Taken
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-09-23 13:37:47 | GNK | buy | $4.200 | long |
2013-09-24 15:02:14 | GNK | sell | $4.560 | long |
2013-09-25 13:53:14 | GNK | sell | $4.360 | long |
2013-09-25 13:53:14 | GNK | sell | $4.360 | 0 |
I think you're buy was good. I think you waited a bit too long to sell on the 24th. From the charts, you'd know there was going to be some resistance around the 4.50-4.60 area, so could have set a partial sell there ahead of time, rather than as it was dropping later in the day. That was the 1st target. And there was alot more resistance around the 4.60-4.80 range too from the dailies - may have sold a bit more into the pop on the 25th, before stopping out when you did. But overall, good job, and certainly a profitable trade for sure!
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This one looks sloppy.