PNK Trade on Apr 21, 2014 12:39 from 0936am_BOWS_BCV12: Tradervue User Stock Trades.

A tip from fellow trader put this on radar looking for a short.
Normally do not trade during lunch hour but will take a short if it looks good.
Noticed on daily chart the 24 area was major resistance.
After its second failed attempt to break this area it appeared to be losing strength so waited for an entry near or below MAs. After the 3rd red candle and MAs beginning to touch took an anticipatory entry with tight .05 stop. Again, when the move was in my favor into the 4:1 RR zone I choose to take profit since I wasn't expecting a strong flush.

Execution detail:

Date/time	Symbol	Side	Price	Position
2014-04-21 12:39:16	PNK	sell	$23.850	short
2014-04-21 13:08:24	PNK	buy	$23.630	0

#chart1 { background-image:url('/shared/charts/pricechart?symbol=PNK&trade=950872&end=20140421160000&i=m15&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart2 { background-image:url('/shared/charts/pricechart?symbol=PNK&trade=950872&end=20140421142924&i=m3&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

#chart3 { background-image:url('/shared/charts/pricechart?symbol=PNK&trade=950872&end=20140421135824&i=m2&TimeRange=90&Volume=1&ChartType=candlestick&width=450&height=275');}

Comments

Nape_BOWS

2014-04-21 17:42:04

You risk .15c to get .15c.. Wasn't worth it unless you let it fully play out.

0936am_BOWS_BCV12

2014-04-21 17:53:05

My stop was a tight .05 and got .20 move.
You're right though, should have let this play out since I could have moved stop to break even with no risk.

bodogtrader

2014-04-21 18:44:58

$24 needs to be your S/L on this not 23.90

0936am_BOWS_BCV12

2014-04-21 19:07:01

Got it, thx

hawk_BOWS

2014-04-21 19:55:04

Good trade idea.

PNK Trade on Apr 21, 2014 12:39 from 0936am_BOWS_BCV12: Tradervue User Stock Trades.

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