Shared by:
ToqueX
Grade=C
The setup: Bear flag afte the opening range.
Stock picking: Also forming a bear flag on the daily and had smooth descending action the day before that it had bounced from into the close. I could see support at 10.50 and we still had some room beofe hitting that level to the downside.
How did it play out: I was early on the first entry, but that was because I thought it would move more quickly than it did. It was starting to break the 9ema and approaching the 20. Biotech ETF was doing a similar thing and the SPY also was looking heavy after a bounce at that point. I got out quickly after the first entry without a loss and was prepared to write off this idea. Then I watched it and it looked like it was showing some weight to the downside and time and sales seemed to confirm this. I re-entered and got my move.
Exit: I scaled out at key levels along the way and tried to save some for lotto, but the move was done.
Execution detail:
Comments
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!
nice!