Depending on how active the prints are, I will use the 1 min charts if the stock is experiencing high volume and prints and the 5min chart for lesser prints. In this case, NWBO had lesser prints so 5min charts were used. NWBO was moving higher at the open but retraced back to around 3.90 @ 10:40 before charging higher testing the 4 dollar mark. Went long @ 4.10 as my buy stop was hit. Held it and trailed my stop and instead of waiting, I wanted to ring the register and this proved premature as the price went up further to around 4.90. Could have sold there because of a final failed flag that was set up @ 4.60...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-11 10:47:36 | NWBO | buy | $4.100 | long |
2013-11-11 11:46:25 | NWBO | sell | $4.570 | 0 |
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