Shared by
mattytrump_BOWS
PB to price support. worked out pretty well.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-18 13:53:47 | CSTE | buy | $48.440 | long |
| 2013-11-18 14:19:17 | CSTE | sell | $49.000 | long |
| 2013-11-18 14:33:36 | CSTE | sell | $49.000 | 0 |
Comments
iStryker_BOWS
mattytrump_BOWS
@istryker My stop was 48.25 and my target was 49.50. I sold half @49 but the rest didn't make it to 49.50 so I sold the rest at 49 when it came back.
Nape_BOWS
Do you have stuff to support your case on your entry? I'm curious as all I see is a really bad entry go your way. Also your stop, I feel like you pulled it out of no where. Usually I put my stops on the break of support, not in the middle of no where. The only support I see is a broken trend line, broken 9ema and 28.19-28.20.
Not trying to be harsh, but this is what I see. http://www.screencast.com/t/gRXEslPaoc3a. To me this was a short.
@Istryker Not sure what you mean. about the 9ema and the 28.19 part, are we looking at the same chart? As far as where I entered it was right above the 50ema, which seems to respond well in the afternoon on pullback plays, also since about 1:15 there had been support around 45.30, and also I watch the time and sales data on flushes/pullbacks,and you can see where the selling slows and the buying picks up again, which happened around 45.30.
charlesk_BOWS
I kind of agree with Stryker that this looked more like a short than a long, but his stop of 48.25 is where that first little flag at the beginning of day and then the bottom of that first pull back. still a risky buy
ok i see the recent low was 45.30 @ 1:15, I still would respect 48.19-48.20 (sorry i said 28.19-28.20 early) more than I would with the 48.30. I don't see the volume slow as you mention, as there is less than 2,000 shares traded per minute. I don't see the 50ema anywhere, you must mean the 20ema on the 5min. I do see it bounce of it. Its interesting you use it as I respect the 9ema more. So you say you use the 20ema for afternoon pullback? How success is it for afternoons? Curious as I might add it to my tools.
Sorry, ya I meant the 20 ema. It does seem to react better in the afternoon for pullbacks in my limited experience, Kunal actually mentioned it to me as well. Another point too was the stock was still well above the VWAP. The more I look at charts however, and I am still very new to this, price seems to be more important to me then any moving average.
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Nice find, great entry