Shared by
Jagz18
Tried this one twice today but never really got going. The daily was at its breakout(BO) spot with volume expansion the prior day. I was looking for continuation above that BO spot. I thought that this was having a morning washout and as the stocks dip started getting bought and approaching its BO spot with volume creeping in i entered at 27.63 expecting it to catch more volume. It pulled back to LOD and i eneded up covering losing $140. I covered right on the bounce spot and the stock bounced back upto HOD. I thought this was signifying strength as the market was showing strength also. So i re entered above HOD the stock flagged and broke HOD again. Only to see it retarce back and i ended up covering for $40 loss approx. The reason i covered was because there was no volume once the stock broke HOD. Would probably trade same pattern again but only on better volume.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-04 09:51:05 | GDP | buy | $27.630 | long |
| 2013-10-04 10:21:26 | GDP | sell | $27.310 | 0 |
| 2013-10-04 10:40:09 | GDP | buy | $27.680 | long |
| 2013-10-04 11:48:59 | GDP | sell | $27.570 | 0 |
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