Shared by
markmandy54_BOWS
Tight intraday flag. Stop -.20, Target +.40, +1. Rolled and stopped me out. Hindsight was a natural P/B to rising 9EMA.
LESSON: Wait for P/B bounce to rising 9EMA.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-12-05 10:15:29 | TWTR | buy | $44.180 | long |
| 2013-12-05 10:26:27 | TWTR | sell | $44.050 | 0 |
Comments
markmandy54_BOWS
Totally agree. After I got stopped it was so obvious that it was pulling back to 20ema and bounced. Your chart is great for the lowest risk and highest probable entry too.
iStryker_BOWS
This stock is tough, It is the type that will break your stop, shake you out but still hold it. I try not to trade this stock because you need loose stops.
I notice it likes to shake down to rising MA's. Great vehicle to trade, just need to be aware of how she acts.
ckz8780
It was just a bit extended... it had only consolidated for like 20 min so it probably needed a while longer. As you can see it ran later after the longer consolidation.
Ya, Daniel's screenshot says it best. MA's moved up to the apex and BAM!
kunal00
thick stock and its not a very tight flag here. this is not a low float 5 dollar stock a 2 candle grinding higher flag ds not a falg just yet
johnc_BOWS
I noticed that I was often seeing patterns that looked good on the 3-min chart that looked meh on the 5-min. Until your stats improve, I might recommend only using the 5 or 10 min charts since the patterns on those time frames are much more valid.
Otherwise, you might train your brain to respond to 3-min charts as if they were 5 or 10 minute.
Great advice johnc_bows ... I also find that sub-5 min charts make me too crazy and cause me to micromanage my stuff!
Funny you mention that John (and Chris) as i used to watch the 1 min and it didn't work for me as was too spastic. I switched to 5 only and i was chasing a ton of entries, and when put the 2 min next to the 5, most times i found it broke out of that 2 min. pattern moments before the 5 min which helped me with my chases. I'm trying to find a good in between as now i'm a little too early. I may try going back to 5 min only if i find i'm rushing entries consistently. Thanks for the feedback as always!
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This was good mark, good try and nice stop. would i would have done is waited a bit if you see the stock was up with no rest, only one small red candle, i would had waited for the MAs to come up closer like it did. check it out http://screencast.com/t/JhX9AaHpDV