Big gap on volume and holding at highs. Waited as long as could and as moved up longed. Stop -.10, Target +.25. Ran +.22 and i didn't take any off. Why? That was 2R gain. Should have taken 1/2 off. Got stopped on all and took eye off.
LESSON: Take 1/2 off at 1.5R or 2R, also keep eye on gap ups for a P/B to rising 9MA as gave another setup to long.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-05 09:43:16 | GTAT | buy | $10.380 | long |
2013-11-05 09:50:28 | GTAT | sell | $10.280 | 0 |
Nice try on the ORB but it just did not work and the volume was there. Good job on the exit. Can't blame the man for trying imho.
next time also check pre-market chart. in this case it is 10.02 support and 10.6 resistance.
When market open, stock repeat making 10.02 low and 10.6 hi.
...using this, you could potentially set you target at 10.6
That Dip to 10 was key, very disappointed i took it off my screen and missed that as that setup on these gappers has been incredible. Thanks Sayad and others for the invaluable feedback.
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Early dip buy.