Shared by
TheCAG_BOWS
On the 30 Min it looked to be Flagging with the 20 DMA coming up to support it.
On the 5 Min the VWAP, 9, 20 EMA were coming up to support it.
I went it in anticipation of a run.
Nothing happened so I sold off at the high of the day (up to that point at $1.68)
If this were real money I would have broken even or made less than $10.
Entry ~$1.65
Exit $1.68
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-11 10:13:54 | ETRM | buy | $1.570 | long |
| 2013-10-11 10:19:06 | ETRM | buy | $1.660 | long |
| 2013-10-11 13:13:05 | ETRM | sell | $1.680 | 0 |
Comments
Gena_BOWS
The 1.57 buy price was a great entry. Was that not real? (looks funky on the chart). If you had entered at that price on the pullback like 5-10mins earlier, I'd say the set up was just right. But your entry of 1.66 was a chase. In a market like this the past week, with an overextended stock (day before had a huge run, outside upper BBs), you've got to be more careful about your entries than usual I think, especially in these dollar stocks where one penny either way is a big move. Risk is higher.
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Seemed like chased up to me.