I took this as a pullback to 20ema bounce. Waited for it to clear 9ema first. In retrospect, I should've just taken it right as it hit the 20ema to get a closer stop. Play didn't work out.
It eventually gave a quick scalp when it bounced off the VWAP. I also could've waited for it to bounce off 90.00, which is a big support level on the daily.
2/9: This still seems like a decent trade. This is a trade worth losing money on. That triple tap breakout could've yielded A LOT of money.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-12-20 12:20:25 | VMW | buy | $90.460 | long |
2013-12-20 12:35:16 | VMW | sell | $90.240 | long |
2013-12-20 12:35:17 | VMW | sell | $90.240 | 0 |
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This looked great. Daily over 90, intraday had big run but was consolidating, MA's caught up and that volume that came in was great. All systems said long. Nice stop as shocked it didn't work.