I had this on watch for a range break on the daily. I missed the pop, but caught the pull back to EMA, although was just a tiny bit late on my entry. I think my entry was good. I set a limit sell for half at 36.40, where there appeared to be some past price resistance. This thing missed by a penny or two twice. I sensed that it was going to break out big time, so I was getting ready to cancel the limit and instead split my stops into halves with one at my buy and another to ride up as it went. I set the rider at a nice flat spot on the chart above my buy as a place holder while I waited for this to take off, and instead it rolled over in about 10 seconds and took out both of my stops. I was really surprised. On the one hand I ended up slightly green, on the other my original stop was at 35.75, and I would have survived this drop and made more on the run-up later on.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-06 10:06:20 | LVLT | buy | $35.950 | long |
2014-02-06 11:25:46 | LVLT | sell | $36.100 | long |
2014-02-06 11:27:21 | LVLT | sell | $35.950 | 0 |
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