Shared by:
EliBrown
Stock broke out yesterday making an end of day run. I was watching for signs of a continuation today. I entered 150 shares at 45.14 as the stock was making higher lows and coiling just above the EMAs and VWAP. I should have been looking to take a few shares off on the spike to 45.50 but I wasn't quick enough. After the pop the stock flushed and my stop was triggered at 44.95. Not the greatest set-up to be playing today considering the market conditions and thus a trade that should have been passed on.
Execution detail:
Comments
EliBrown
Not much of a set-up, but to me it was looking like a flattop/triangle under resistance from yesterdays high while also making higher lows. The fact that I can't name it with confidence shows I should have probably passed on this one.
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I completely see what you were doing. But .... what was the name of the setup? I feel it's important to know the name of the setup and use them as tags on your trading. Not only will help reviewers, it could help you later.