MRK Trade on Jan 28, 2014 13:44 from johnc_BOWS: Tradervue User Stock Trades.

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johnc_BOWS

 

Took it when it broke above the cup-and-handle resistance area at 52.80. I got 20 cents out of it, but my stop didn't give me enough size to scale out there.

I exited completely when it broke all MAs and price support levels.

http://i.imgur.com/P2WZeCy.png

http://i.imgur.com/xMg2jUJ.png

http://i.imgur.com/s3qpBbV.png

I'd call this a Type 4 trade simply because it's not one of my GOTO setups. Cup-and-handles are OK only if they're accompanied by one of the other setup I learned in the Bulls bootcamp.


Execution detail:

Date/time Symbol Side Price Position
2014-01-28 13:44:56 MRK buy $52.810 long
2014-01-28 15:03:26 MRK sell $52.761 0


Comments

2014-01-29 19:07:54
 

That 53 is a tuff nut to crack in this market environment. Nice stop.

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