Shared by
ckz8780
IOC had been consolidating since the beginning of the day around $92.50 and after getting dropped back down in the mid-morning the dip was bought and it consolidated again so when it broke through I decided to take a small gamble on it with a stop under $92. The daily chart was very extended so it didn't ever get moving enough to justify selling (was shooting for at least $93.50 before selling any) and once it started to fail I decided to get out. Not really a bad trade, just too extended to work. It was worth a shot.
100 shares
+$18.00 (0.19%)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-18 11:38:19 | IOC | buy | $92.520 | long |
| 2013-11-18 12:37:41 | IOC | sell | $92.700 | 0 |
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Doesn't look like a clear setup to me as 93 resistance on 15 min