Bought on what I thought was the first pullback but it hadn't finished so I added more on what I thought was the pullback but it still hadn't finished.
Scaled out on the way up.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-14 10:00:25 | LOGM | buy | $41.780 | long |
2014-02-14 10:02:47 | LOGM | buy | $41.480 | long |
2014-02-14 10:29:31 | LOGM | sell | $42.010 | long |
2014-02-14 10:46:19 | LOGM | sell | $42.430 | long |
2014-02-14 10:55:28 | LOGM | sell | $42.010 | 0 |
nice one, i had to pull up the monthly chart to see whats what...
https://www.dropbox.com/s/ahv4u1vf4rxla5i/Screenshot%202014-02-15%2021.57.38.png
no volume after the breakout on the open at the 5min chart, seems to be confined into $42.42 $36.83 see 2012 january candle, i will watch the breakout on $41..
I don't usually look at the monthly charts. What were you looking for in particular?
it is also a new discovery for me, check the doji i marked with yellow, you can figure out a range back on a monthly chart if the price has been in that territory... see the chart i put on dropbox
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Usually waiting for the VWAP to catch up for support (Kunal says "like a push-up bra") is often a good place to enter. Although I have found if I wait for that, I often do miss the run up. Maybe the 2nd entry could have waited for that. First entry made sense, but wait to add more until the VWAP catches up? Just a thought...... But overall a very nice trade, mostly great exits!!