A+ setup - solid catalyst, gapping up above 200MA on daily chart, overhead resistance not until 142 (50MA)
Worst entry ever.... rushed it... and also fat fingered on my 3rd add (+150 instead of +50)
I wasn't aware of Fed Statement (not sure how I missed that in my morning news scans)... but knowing that might have been more cautious as markets tend to chop/fade ahead of big news events.
Sat through way too much unrlzd PnL... and so decided to hold my position once I saw 61 fib hold twice after ranging between 132 and 133.50 for about an hour or two.... mental stop was below 132, but wanted to give it a chance to bounce after the Fed statement.
Fed statement was bullish for entire market and CRM bounced hard... but I took it all off just under my entry point instead of trying to scale out in case of another move up towards high of day....
I was waiting for a pullback down to 135/135.20's area for the second leg up... but it never made it that far back... so could have actually bought that dip at 136 but missed it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-11-28 09:29:14 | CRM | buy | $138.900 | long |
2018-11-28 09:30:24 | CRM | buy | $139.400 | long |
2018-11-28 09:40:27 | CRM | buy | $135.000 | long |
2018-11-28 09:41:47 | CRM | buy | $135.000 | long |
2018-11-28 12:15:45 | CRM | sell | $135.880 | 0 |
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