My plan going into this trade was to watch for a base to form at the entry after a strong rally up to 50 into the close yesterday. The stock ended up gapping up, opening around 51.00. My first entry was way to early. I went long 100 shares at 52.45 on a mini flag, but after the first parabolic green candle I should have been more patient and entered on a deeper pullback. I sold at 51.88, right on the 20 EMA support. A mistake on my stop-loss placement which was at 51.90. The stock did dip below the 20 EMA afterwards though so either way I would have got shook out. After the stock broke back above the VWAP and 9 EMA, consolidating right under 52.75, I re-entered 100 shares at 52.49 and another 100 at 52.54. I had a stop placed at 51.76. It tested the 20 EMA once before before breaking out. I scaled out my first 100 shares to early. I meant to put a sell limit order in at 53.30 but accidentally executed a market. I scaled out another 50 at 52.30 and the remaining 50 at 53.61. I should have been keeping some lotto shares, but I mistakenly didn't. Instead, I re-entered 100 shares on the flag at 53.50. I sold off 50 into the spike as it broke 54.00, getting filled at 54.03. I sold off the remaining 50 on the pullback, getting filled at 54.00. Sold just in time before biotechs took a giant dump.
Execution detail:
Thank you for reviewing my trades Mark, cheers.
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!
Well played overall except for the first entry. It's good that you weren't fearful of playing the same ticker even though you took a loss on your first crack at it.