GRMN Trade on Feb 19, 2014 14:39 from EL_BOWS: Tradervue User Stock Trades.

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EL_BOWS

 

I had this setup fail twice today -- is this a valid setup?

Gap up. Day long consolidation, higher lows, flat top. Bought on break of the flat top. Figured it would hit resistance at 52, but if it cleared, I had a great R:R. It didn't break, I sold as it rounded through MAs.


Execution detail:

Date/time Symbol Side Price Position
2014-02-19 14:39:05 GRMN buy $51.920 long
2014-02-19 14:58:38 GRMN sell $51.790 0

Comments

Gravatar Nape_BOWS
February 19, 2014

Buyers stop coming in. Nothing you can do. It was stuck in a range.

Gravatar Sayed
February 19, 2014

That double top ruined this setup and after that it is no longer day long consolidation or any setup.

Gravatar EL_BOWS
February 19, 2014

@Sayed: you mean the double top as in the open and then the big 11-candle green run up?

Gravatar Markmandy54
February 19, 2014

Great point Sayed

Gravatar PHILnomenal
February 19, 2014

Learned something here about double top invalidation of setups, can't complain about that :)

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