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bjstrade9_BOWS
Intraday crapped out with huge seller or something, was way too far from ma's on this strong stock so I bought the dip and sold into resistance. I first checked the news before I entered.
Execution detail:
Comments
markmandy54_BOWS
Great reversion trade but i gotta agree with Stryker as no daily support or MA's that would attract buyers. Also wasn't extended on multiple time frames which decreases the odds of the reversion.
bjstrade9_BOWS
Yes your very right! I was stalking this stock and seen every dil bought for two days. I knew I had little time to decide and just went with it. I thought about what the setup was and that should have been the deciding factor to not enter. It was risky and I want to eliminate any high risk from my game. Thanks again
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I wouldn't trade this. This is not part of BOWS setup. I use to trade bounces like this, and sure you make a few hundred, but you also put a few hundred at risk.
You caught this perfectly, but most of the time you don't. Say you get in @ 4.80, the bounce play is to 4.90-4.95, but the risk is to 4.70-4.65. The time of the day is bad too, as there is usually low volume to push the stock higher.