Shared by
markmandy54_BOWS
Holding at highs and flag. Stop -.10, Target +.25 and looking for run to 6., lost pattern so took loss.
LESSON IN REVIEW: ALWAYS LOOK AT DAILY FIRST, WAS EXTENDED AND RUNNING INTO RESISTANCE.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-26 09:57:26 | ARIA | buy | $5.490 | long |
| 2013-11-26 10:22:36 | ARIA | sell | $5.400 | 0 |
Comments
johnc_BOWS
I think three things worked against you in this trade:
1) It's up nearly 300% on the 4th day of its run. If ARIA's float was lower (under 100M), this may not have mattered but...
2) You ran into resistance on the daily. Check out that dump in October. ARIA failed right at the high of that big red candle. As time-consuming as it is, zooming out and drawing these support/resistance lines will save you a lot of heartache.
3) ARIA was rejecting that higher price. The wicks on the 5-minute chart were making lower-highs. During your video reviews, it may be a good idea to look for these things.
markmandy54_BOWS
Agree with #1, #2, #3. Funny you mention that as i almost didn't take it due to the fact it was running up that fast and into resistance. The good news is that i noticed it, and took small position risking almost 1/2 of my normal tolerable risk.....but should have passed all together.
Looks like it might set up for a break out of that range though. Damn, that gap-fill would be hot.
Funny you say that as it's on my W/L due to the great flag on the 30 min back to the rising 20 and 50MA. Over 4.90 may pop.
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It was to extended on daily. 4 day run already. It was due for a pullback.