Shared by
BScripter_BOWS
Was anticipating continued strength on this as it had a big day yesterday and gapped up in the morning. I was watching the 3 minute chart and waited for a positive confirmation after a pullback to the 9 EMA. It hit the 9 and looked like it was going to take off from there and I wound up chasing it a little bit. It didn't end up going but I continued to hold it as it didn't break support and was flagging with support riding up underneath it. I got stopped out when it dumped...the stop definitely kicked in late though since I had it set originally at 56.90 and was riding it up to about $57 so not quite sure why it took an extra $.24 to kick in.
Original stop: 56.90
First target: 57.75 (Day's open)
Reward to risk: 2:1
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-12-20 09:38:28 | SCTY | buy | $57.250 | long |
| 2013-12-20 10:07:51 | SCTY | sell | $56.760 | 0 |
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Right idea. Need to wait for confirmation of the bounce though.