Shared by:
Louie
Entered when stock was forming a wedge at the VWAP.
The plan was to exit if 19.9 breaks.
Whilst in the trade, the trade started to work in my favour straight away. But it stopped at the recent high and completely formed a double top. I was thinking it might totally roll over because of that double top. Then, I started to worry of the spread and the absence of buyers at the whole number 20. So when that broke, I quickly took it off. Have I sticked to my plan of exit at 19.9, this would have been a really good trade.
Another problem that I need to improve on, Stock broke that former double top and then dipped to offer another great long entry. I didn't reenter because of the "pain" it gave me earlier. Felt the stock betrayed me so just decided not to touch it.
Execution detail:
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