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Saturday, May 31, 2014

Friday had the right idea but made some mistakes

$SCTY Had a nice test and rejection off the daily 50MA.  Gave a P/B to congestion area which gave a great short at the VWAP and 50MA.  Shorted just under and blew it by putting way too tight of a stop.  Great setup though.

$BBY Great daily Base B/O setup, took early off open, great tight stop of -.15 with ultimate target of +.75 for 5:1 R:R.  I nailed the entry and ended up moving my stop up too quick.  Painful reminder not to micromanage.

$GMCR Nice intraday bear flag.  Stop -.50, Target +1.  Had to leave so tightened stop to -.25 and put limit +1.10. 

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