Shared by
singham_BOWS
Daily: pullback bounce
Intraday: flat top breakout
entered on break of 7.60 resistance and scaled out quickly as market kind of shaky for any breakouts.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-27 13:09:17 | NWBO | buy | $7.610 | long |
| 2014-03-27 13:17:31 | NWBO | sell | $7.730 | long |
| 2014-03-27 13:21:33 | NWBO | sell | $7.805 | long |
| 2014-03-27 13:26:44 | NWBO | sell | $7.895 | long |
| 2014-03-27 13:31:08 | NWBO | sell | $7.970 | long |
| 2014-03-27 13:53:04 | NWBO | sell | $7.810 | 0 |
Comments
Nape_BOWS
Spartan_Trader
iStryker_BOWS
Perfect there was two setups working for you, a flat top and a flag that happen just a little bit earlier. http://screencast.com/t/GmUDPVLeci
Your first exit was perfect at the high of day, and no increase volume yet to indicate that it was going to break it.
I would've let your other exits run a little more, as the volume as coming indicating it was going to chase 8.
Your last exit was ok and safe. Honestly I would've sold it 7.60ish 30 minutes later. That flat top breakout became support, I would be looking for it to bounce of it, which it did. You probably had only 1/8th of your size left, no reason not to let it ride, worst case sceniro you cover flat.
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I hit this one also...nice trade