In retrospect this looks like a bad trade.
My thinking on this one was to go long on bar 11 (on 5 min chart) @$22.15 with a stop right below VWAP @$22.07 (15 cent risk) as it opened higher that previous bar high @22.14 - it came back and closed at 22.15 again. I got stopped out immediately on the following bar right below the VWAP. Not sure what i could have done differently as the two consecutive bars prior to my trigger showed some consolidation above VWAP.
I would appreciate your feedback on this one. Thanks.
Execution detail:
Broader market down hard so break out plays becomes suspect at open. Most likely they will fade under Market pressure.Your stop was fine but the real mistake was not shorting this on that double top flag break down http://prntscr.com/2mgc90
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!
No setup on entry. You needed to catch the pullback play to the EMA. Stock was already up 3 candles in a row, then went sideways for 5min which is 1 candle; then you bought near HOD approaching resistance.