I entered this trade after it crossed the trend line alert I had set on the flag on the daily chart and also pierced the 50 SMA. This was intended to be a swing trade. When I purchased I had MA and VWAP support on the 5 minute and 30 minute charts for my stop at 3.50. Looking back on it I think I was chasing a bit, and should have waited for the first pullback on the 5 minute chart for entry. My initial target was 4.00, which also puts the risk/reward at a poor level. Looking back now I can see that this stock made several excursions up through the 50 SMA and then retreated back under it, something that I should have taken into consideration.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-06 09:40:21 | SGOC | buy | $3.766 | long |
2014-01-06 12:05:42 | SGOC | sell | $3.500 | 0 |
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