Was on my watch list from previous day 4% breakout scan with potential flat top breakout. Entered trade when it broke through an intraday flat top at $11.70 with a stop at $11.55. Target was the day's high at $12.10. Momentum didn't materialize and I got stopped out during the following pullback.
Execution detail:
see how extended the daily chart was. it was actually parabolic. you gotta avoid longing stuff thats really extended on daily charts as it diminishes your risk/reward considerably.
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!
bit extended when you entered.. stock was just out of juice.