Shared by
delusive
Was looking for a pullback bounce off the MA's and the bottom of the bull flag that was forming. I knew if it didn't hold I had my stop right there. I like to throw these ones out there once in a while (ok well more often than not).
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-11 14:10:24 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:10:24 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:10:24 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:10:24 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:10:24 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:11:01 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:11:03 | RVLT | buy | $4.230 | long |
| 2013-10-11 14:11:03 | RVLT | buy | $4.220 | long |
| 2013-10-11 14:19:20 | RVLT | sell | $4.190 | 0 |
Comments
Nape_BOWS
Gena_BOWS
The stock was hitting it's resistance (look at daily and 30min chart) and having a hard time getting above it. It's risky to enter there, especially if the set up is not there. It looked like it was flagging and getting ready to go up, but instead it could not old it and went down instead - and that's when you bought, on the down side. Very risky, not in your favor. And add to it the market wonkiness, and the fact that this stock was on it's 3rd day up, it was getting tired. Double trouble for risk.
I noticed you tend to enter stocks later in the day. Any reason you are not in during the morning time? Just wondered. (i find the later day plays to be more difficult, less crisp set ups.....)
delusive
Gena, great insight, it's funny I knew the resistance was there, but was buying on a hope that it would break through. Looking back though, it was definitely over extended getting there and that small consolidation on the intraday was not enough rest for this guy. I was trying to buy the bottom of the consolidation pattern, except it just smacked right through it as soon as I bought.
As for trading in the afternoon, I think I got impatient. I have been trying to work on my patience and take only great trades from 10am-noon. I really prefer the morning. Usually what I am looking for in the afternoons are big flags that are really coiled and haven't broken support or broken out (I know you can't tell from this trade :) )
Looking back at this my stop was wrong also, it dropped right into the VWAP and held it, I should have put my stop under this level.
This is so much fun looking at charts and trades, I learn so much from everyone. Keep posting them, and keep re-analyzing. We can do this!!!!
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Bought on breakdown of the flag.