Shared by
markmandy54_BOWS
Great gap up, holding highs and tight flag. stop -.25, Target +.50, shakeout which lost pattern so took loss but kept eye, setup again with 9EMA holding. Long again stop -.13 target +.35, +.70 and swing some. Again lost support for the shakeout.
LESSON IN REVIEW: GOOD ENTRIES, JUST GOT SHAKEN OUT. SHOWED SHAKEOUT SIGNS EARLY WHICH STATED COULD HAPPEN MORE.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-11-26 10:16:25 | TIF | buy | $87.200 | long |
| 2013-11-26 10:34:29 | TIF | sell | $86.950 | 0 |
| 2013-11-26 10:54:40 | TIF | buy | $87.040 | long |
| 2013-11-26 10:59:25 | TIF | sell | $86.940 | 0 |
Comments
markmandy54_BOWS
You nailed it why. My entry was at the apex of the trendline and as volume started to come in (yet again when the volume was green as i entered but then that candle closed below so became red volume bar) and stop was under that rising trendline. I had conviction in this trade but trying to get my gut/emotions un-involved. In hindsight this has tendency to shakeout under support. That's why i even jumped in again a 2nd time thinking setup still valid, just got the quick shake out.
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Why did you pick the stops that you did? They seem a bit tight to me. Did you base them on a trendline that you drew? As you said, the entries were OK. I might've waited for a bit more accumulation since there was a quite a bit of distribution after the morning. Green bars were still smaller than red at your entries.
Good find though.