JNJ really had it with me. This was a tough trade and I did trade it badly.
I tried to short again on my short bias when I saw it retest that resistance level. It respected it for a moment, but JNJ broke out to the upside. It was a big mistake not to take off the trade and take a loss. JNJ was way too close to VWAP to allow to use it as a starter.
JNJ made a run up and was really strong. I was really patient and hesitant piling in as I have no real feeling on how JNJ is trading.
I took a partial off at break-even as I still thought it might sell off further.
It was just a pullback and I hit the low with my exit. Did good here, but should have taken off the whole position. My judgement at that time was not good as I was aware of the bad first entry just later in the day.
132.50 was my final target to add at the SMA200. Never got there. Added back and took off the trade as it went my way.
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!
You can write your trade notes and comments using markdown syntax for links, images, etc. Some quick examples to get you started:
For other options, see Markdown syntax documentation.
Note that normal HTML tags are not supported in Tradervue.