Shared by
jmoscate_BOWS
Play: VWAP break down - anticipatory trade - 200 shares
stop loss: 27.23
Very bad trade. I saw volume and assumed it was going to break the VWAP but it clearly didn't. Need to be patient and get confirmation.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-16 11:24:26 | BBY | sell | $27.110 | short |
| 2014-01-16 11:24:26 | BBY | sell | $27.110 | short |
| 2014-01-16 11:30:44 | BBY | buy | $27.230 | 0 |
Comments
jmoscate_BOWS
I totally agree..thanks for the tips! When it taps the vwap, it will bounce but once it breaks it, it can be used as confirmation right? I tend to wait till it breaks the VWAP which at times is far away from the price which makes me chase.
daniel_lopez_BOWS
yeah, the more taps the more likely it will break.
thanks daniel! and I have one more question sorry lol All your flag entries and unreal so I was wondering what do you see or what makes you want to get in the trade RIGHT before it breaks out. I tend to get in and either wait if it goes or not, it is more of a guessing game and hence probabilities are not on my side so i was wonder what do you see? thanks so much!
daniel_lopez_BOWS
Jmoscate_BOWS Honestly im just sure about my set up.flag looks clean.. i align on all time frames and hit it!
daniel_lopez_BOWS
i recently added the 15min chart frame.
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this was a bit of a chase, i would have hit it a candle before when it rebroke the 9EMA. also the VWAP is far from your buys price. if your anticipating a break of a VWAP it would have to be tapping it a couple of times before it breaks. usual the first tap on the Vwap is a bounce.