Stock is InPlay, this is a second-day trade; Gap and GO. It gaps higher pushes on open and forms a bullish flag acumulation on open. This is a trade to hold, hunting for an uptrend intraday.
It was very expected for sellers to step in at .20c since the 15 min chart shows a pullback trade with first profit taking at the high above 92.
I took only 1/3 of the possition since the market medium and short term trend was down. Closed the position as it failed to build the uptrend and made a lower low.
Note: This is a 10c risk trade on breakout. A t1/t2/t3 strategy would have worked.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-28 09:54:06 | CAT | buy | $91.980 | long |
2014-01-28 10:14:47 | CAT | sell | $91.940 | 0 |
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