Stock had a really nice daily chart after coiling up over the past week. I could have definitely took a trade as the stock broke above my trend line but I didn't want to chase as there wasn't much of a pattern besides a very short flag. I waited for a set-up to form and bought as the stock began flagging just above the VWAP. I entered 200 shares at 37.25 with a stop at 37.10. When the stock was nearing its HOD I scaled out 50 shares, getting filled at 37.40. I should have probably scaled out a larger position as the flag breakout to the HOD was on one candle and thus unlikely to break the highs. Instead I waited to see how the stock would react, but it ended up dumping and I allowed my stop to trigger. The stock formed a nice coil just under the HOD later in the day which would have been a nicer entry.
Execution detail:
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