I could have potentially traded this out of the gate as it was holding its trend line I had mentioned in my plan but I wanted to wait for a set-up. I switched to a 1 minute chart to find a set-up and entry point. It was flagging after its first spike up to 31.70. I entered 400 shares at 31.76 and placed a stop at 31.42. I got a little bit nervous having 400 shares so I sold 100 as it hit my resistance line at 31.93. I scaled out another 100 at 32.35 as it broke above this level. There was a nice add post as it pulled back to this level and the 9 EMA on lighter volume but I didn't want to have it to break below and turn this into a losing trade. In hindsight though, I should have added here. I scaled out another 100 shares at 32.44 on the parabolic green candle and the remaining 100 at 32.69 on the first sight of a red candle. There was another decent opportunity to re-enter when the stock pulled back and made higher lows above the EMAs as it made nice rip up to 32.90.
Execution detail:
Thanks Steven
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Nice trade Eli.