Shared by
Markmandy54
Been watching this for DAYS and kept alerting. MA tight underneath, Long early with tight stop and got hit...and glad i did, lol. Gut said to switch short but only about 20 minutes after i'd been stopped. I'd like to train my eye to reverse trades that are at apex as when they don't work, i notice the tend to RIP in the opposite direction and i'd like to capitalize on that.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-13 09:32:43 | V | buy | $226.800 | long |
| 2014-03-13 10:02:26 | V | sell | $226.380 | 0 |
Comments
KeithL_BOWS
When you figure out that reversal thing.. Let me know...ive been trying to figure that out for a few weeks now.
Good management on this though.
Markmandy54
It's actually very simple (not easy, but simple). I came in long biased on V off daily and it was at the apex of the pattern (Flat top) which means many will be looking to get in. Fake out to the breakout, and rolls setting up a gorgeous Flat bottom breakdown at 226.50. All i had to do is click short after i got stopped, but i was unable to shake my biased quick enough.... And that's the part i need to keep in check, is trade the pattern with no bias, and when pattern fails and setup changes to a different trade (long or short) to take it.
So....do you feel that you can long and short on the same stock several times throughout a day based upon the setup it presents?
I have heard some say that if the stock seems like it is patterned for a long on the daily, you shouldn't short it during the day.
I cant say that i agree with that philosophy. I prefer the "trade it as you see it" theory.
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Good stop. It had the potential on the daily if broke that range.