Callout from Kunal. Pullback bounce on the daily. Bounced very close to the breakout level. I entered when it broke the previous day's highs (my desired price was 7.32 because that would've been enough for confirmation, but I chased 3 cents and had to adjust my position size accordingly). Stop below the LOD. However, Kunal played this as an ORB, and his entry price was 7.24. In retrospect, I definitely chased.
Each time new support was formed, I added additional shares, with your position size matching the distance between your new stops (i.e. just below support) and your new average entry price.
The market was really choppy, so it failed (among many of my other long setups today). I missed its eventual bounce off support at the opening range breakout spot.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-10-04 09:41:22 | KNDI | buy | $7.340 | long |
2013-10-04 09:56:52 | KNDI | buy | $7.420 | long |
2013-10-04 10:09:13 | KNDI | buy | $7.440 | long |
2013-10-04 11:00:23 | KNDI | sell | $7.260 | 0 |
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Chased that big time.