Notice this stock just after 12. Make back most of my lost in this fine trade.
A typical 5 min setup entry.
The First trade buy at 7.4 and adding one more lot after breaking a higher price 7.47.
It is the first 5 min new high after tbe stock breaking 7.
I wait for the stock to shoot until 8, but the shooting is too fast, my exit point is poor at 7.72. I canot execute the 7.9 sell order.
Second entry:
The stock continue to consolidate above 7.5, then I wait for another 5 min new high.
I should have start the position at 7.6 but it is still below the little downtrend line resistance , so I wait it broke the resistace and it trades to $8 first. I wait for the 1 min chart to pull back as it is already very extended at this point with 4 green candle.
I did pull back to aound 7.7-7.8 wihch for another bull flag in 5 min chart, I bought once it broke the high 7.82 and ride the the to stock to 8.23. Again I should hold little longer to 8.5 but because it drop so fast last time, I tend to sell it earlier once I saw the spike.
Third entry point:
I continue to trade higher but slower even with higher volume. At this point, I am quite cautious of the breakout, so I havn't took the first 5min high at 8.5, and it only trade to 8.8 then drop back.
8.8 becomes the resistance, It trades 3 times to 8.8 and back down.
Finally, it breaks 8.8 and I saw that coming, I hit the ask and the price come back 8.85 which is too high of an entry. I expect I can get 8.75 as my entry, so I did not hold the position too long, as it struggle near 9. I cut the loss at 8.76.
I do have chance to buy back at 9.02 once it stand over $9, but I am not react fast enough to get the position and it trades up to 9.5.
As it is already 2am, my reaction mostly likely slow down, so I stopped trading here.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2021-05-20 12:10:33 | UONE | buy | $7.400 | long |
2021-05-20 12:10:55 | UONE | buy | $7.469 | long |
2021-05-20 12:21:17 | UONE | sell | $7.724 | 0 |
2021-05-20 13:11:03 | UONE | buy | $7.819 | long |
2021-05-20 13:14:52 | UONE | sell | $8.230 | 0 |
2021-05-20 14:00:33 | UONE | buy | $8.850 | long |
2021-05-20 14:02:25 | UONE | sell | $8.760 | 0 |
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