Shared by
ephraim_elston
Adding this setup to my playbook... I have traded it before (learned in BOWS bootcamp).
QQQ's consolidated sideways for about an hour after the morning drive... and then right before lunch broke out on higher volume... so I waited for the pullback to the breakout level... and when price held above that level.. I got long with tight risk and small size (midday low volume). And it worked out OK... but price rejected 56.90's twice.. so I just got out with a small gain. The bigger move I was looking for did happen later on around 2pm. At which time I was reviewing my trading film from earlier in the day.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-11-07 12:19:59 | TQQQ | buy | $56.430 | long |
| 2018-11-07 12:26:37 | TQQQ | buy | $56.500 | long |
| 2018-11-07 13:06:30 | TQQQ | sell | $56.660 | 0 |
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