Shared by
Markmandy54
Daily been very strong and great tight intraday pattern, longed with -.65 stop, as kept coiling added to full position and raised stop to under the 9EMA. Meant to put limit sell in and was still on stop so sold out entire position. Noticed the mistake and got back in, all in as the pattern was GORGEOUS and had super tight stop now of just under -.25 with a +1, +1.50 target.
Broke out on volume but didn't run like expected. So tempted to move stop to B/E but the selling was low volume so kept original stop. PRACTICED GREAT DISCIPLINE and didn't micromanage, Couldn't break above 120 so took off 1/2 just prior and was waiting to see if would B/O again or roll. As it rolled i took it all off.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-18 10:47:36 | GMCR | buy | $118.900 | long |
| 2014-02-18 11:00:43 | GMCR | buy | $118.960 | long |
| 2014-02-18 11:01:33 | GMCR | buy | $118.960 | long |
| 2014-02-18 11:13:53 | GMCR | sell | $118.980 | 0 |
| 2014-02-18 11:15:29 | GMCR | buy | $119.000 | long |
| 2014-02-18 12:03:30 | GMCR | sell | $119.860 | long |
| 2014-02-18 12:20:02 | GMCR | sell | $119.850 | 0 |
Comments
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A little bit risky on first entry as it had not broken out of it's flat top yet, so there was possibility of going down here, where resistance was stronger. But then that consolidation and time provided the support needed to prop it up higher. I like your patience holding it to just under the 120 spot. Based on 30-min and daily, the 120 spot was definitely gonna be a huge resistance area.