Bottom bouncer off the both support and the 50MA. Went in on the flag breakout and sold partial positions on the spikes. Had no reason to sell that last one and left some more on the table but I reached my R/R and shifted to some other plays instead.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-10 11:10:22 | ORMP | buy | $15.420 | long |
2014-02-10 11:10:22 | ORMP | buy | $15.420 | long |
2014-02-10 11:10:23 | ORMP | buy | $15.420 | long |
2014-02-10 11:13:59 | ORMP | sell | $15.740 | long |
2014-02-10 11:30:54 | ORMP | sell | $15.880 | long |
2014-02-10 11:30:54 | ORMP | sell | $15.890 | long |
2014-02-10 11:34:56 | ORMP | sell | $16.180 | long |
2014-02-10 11:35:04 | ORMP | sell | $16.110 | 0 |
Beauty of an entry again here, but hard to see reasons to sell the 2nd and 4th sells.
Yep, you are right EL_BOWS and that's exactly what I think as well and wrote it in my trade comments. There was no reason to sell but I reached my R/R and had some other trades going on at the same time so decided to cash out but had no reason to do so and ended up leaving much more profit on the table.
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Again, I like how you wait for confirmation before entering. First sell was good - way to reduce the risk and be able to take some profits. Not sure the reason for the 2nd sell though? The next resistance I would see would be around 16.20 or so - which is where you did sell your third piece (which was a good call imo, even though you state above that you had no reason to sell there - I would counter and say you did have reason, because it is a prior resistance area)