Took a long position at $3.00 on Monday expecting it to go up more, Tuesday was a down day, so watched it like a hawk on Wednesday morning with my finger on the trigger ready to sell if it started going later. Price hit $3.00 and there was a back and forth between $3.00 & $2.99 for several mins in the morning. Decided to sell at $3.00 so that I could break even. After my sell the Ask went up to $3.07 while the bid stayed between at $3.00. Then spiked up to $3.24 at some point during the day before it closed at. As I write this I realize that the resistance both times was at a round number: 3.00 and 3.25. At its daily high would have made up to $80 on my investment, but instead I only broke even (took a loss if you count commission fees). Thinking I may need better intraday charting skills both over multiple timeframes and more intraday candlestick analysis to become better at predicting these long positions.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-14 14:53:16 | SPRO | buy | $3.000 | long |
2014-04-16 08:55:47 | SPRO | sell | $3.000 | 0 |
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