Gapping up pre-market, I needed to wait for price action to find support before going long. I was long bias right out of the gate and didn't have the patience. I went long 300 shares at 64.68 and placed a stop at 64.10. No set-up, too many shares, too loose of stop, zero risk management. I got stopped out at 64.09. When the stock flagged at 64.50 I was thinking it would break the down trend and reverse. I tried to anticipate it but I was too early and there was also no set-up. I entered 100 shares at 63.97 and placed a stop at 63.60. I was stopped out at 63.57 once it couldn't break over the EMAs and VWAP. Had I drawn a trend line from its open and waited for it to make a 1-2-3 reversal (which it did at 63.00) this could have been a half decent trade. Unfortunately, I was way to impulsive.
Execution detail:
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