Daily: 50DMA bounce continuation
Intraday: Bounce play
Entry: $51.12
Stop: $51.85
1st Target: $51.8
Gain: $53 (.52%)
Picked up $SFUN from the BoWS watchlist. Bounced off the 50DMA on previous day and was watching stock for clearing 20DMA at $51.50. Entered trade when stock bounced off the $50 mark and moved above moving averages. Also cleared resistance at $51 from previous day. Sold half at first sign of weakness and moved stop-loss to buy price where I got stopped out. Failed to notice resistance at %51.50 from 3 days ago.
Execution detail:
Risky play.
nicely described! thanks
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Entry looks chased.