Trade Review - NKE - July, 01

Stock Selection Information

No relevant news on the stock. It had it´s earnings released on Friday morning or Thursday afternoon and it was in play (2nd day play). Stock had a bad reaction to the released, but recovered during the day. Today I was going for the follow up on that recovery.

Watch List Reason - 2nd day play

Pre-Market Volume - None

Trading Plan - Go long above 64.00

Management

Entry Setup used: Open range break up

Trading Comments

The level I was watching was 64.00. Market test it twice before actually moving. Could see some buyers on the tape and the Open Range formation I like to trade. As it was breaking the range up, I joined the buyers. It took 2 trades before the stock start moving up.
Market was overall strong, which helps long position. Reading which way it was moving and if it was following the expected scenario helped to find the entry/exit spots.

Evaluation

It was a good trade and well managed. The problem after that was to stick to the stock (that was moving higher) and take the other trade entries it was giving me. Besides that, it was a good trade. 

Trade Review - HDS - June, 27

Stock Selection Information

IPO today.
Price reference - 22.00 - 25.00
Shares - 53,191,489
Offer Amount - $1,529,255,300
**Daily picture not relevant

Watch List Reason - IPO

Pre-Market Volume - N/A

Trading Plan - To go long if price is above the reference levels.

Management

Entry Setup used: Momentum play with tape reading.

Trading Comments

The stock had opened below the reference prices and I was looking it trade around the 18.00. It should´ve drop this level, but did not. I could see the buying pressure on the way up. It tested the 18.25 once and failed it. On the second test, it broke above with good volume and I got in at 18.26. Tape reading skills helped me to take the trade on a momentum setup.
When momentum was over I closed the position.

Evaluation

The entry and execution of the trade was fine. This is how I like to trade, stocks with fast prints and momentum. Lately the market is not showing this movements pre-market, so I´ll need to adjust my opening strategies.
Also I could´ve stick to the stock and find other entry points in the stock.

Trade Review - EMC - May, 30

Stock Selection Information

• EMC increases the size of its buyback program to $6B (authorized over three years to December 2015) and says it plans to repurchase $3.5B worth of common stock by the end of FQ2 2014. The company also initiates a quarterly dividend of $0.10/share and says it plans to alter its capital structure to include more debt while still "maintaining a strong investment-grade profile." (PR)

Watch List Reason - News on the stock

Pre-Market Volume - 10%

Trading Plan - To go long above 24.25 - 

Management

Entry Setup used: big seller stepping lower

Trading Comments

Tape reading was the key here. The initial plan was to go long on the stock, but at the open there was a huge seller on the box, offering 1.500.000 shares at 25.05. So I opened a short position in front of him. It did not take long for the trade to develop. At the 24.75 level some buying took place so I closed the position. The initial plan was to just take profits on a 100 shares at this level and hold a core, but I messed up execution. When it spiked up the plan was to add, but since I had closed the position I short it again. When the 24.75 level dropped again, I planned to add to position, but my offer did not get taken. Close it when it stop moving down.
On the way up the 24.92 level was holding prices, but market was moving up and the sellers were not strong to hold prices down. When the bids lift to 24.93 a long position was opened for a scalp, expecting the 25.05 to defend the level, but he was not there anymore.
When it got to the pre-market highs sellers came back I tried a short position but got stopped out on the spike up. Too bad, cause prices drop after that.

Evaluation

My first mistake was to close the position at the 24.75 level. That was not my plan, but I hit the wrong button when executing the trade. I manage to get back in, but failed to add when my offer did not get taken and prices dropped.
Also on the way up, the long position was strong and I should´ve held it when I saw that the seller was not at the 25.05 add to the position.
At the pre-market high i should´ve shorted it again at the 25.23 level. Too bad I did not.
Even with these mistakes, I had the trade under control at all times and it was a very profitable one. 

Trade Review - SFD - May, 29

Stock Selection Information

• Heard during Smithfield Foods' (SFD) conference call: Execs say the sale to a Chinese company is "good news" for the pork industry as a major U.S.-based food company ties in with an extensive Chinese distribution network. They also note Shuanghui sells in other major Asian markets such as Japan and Korea. Both CEOs reiterated that Smithfield's business and operations will remain largely the same. (webcast)
• More on the Smithfield Foods (SFD) acquisition: Under the seemingly generous terms of its deal to be acquired by Shuanghui International, no Smithfield facilities or locations will be closed and the existing management team will remain in place. The board indicates it expects resistance from U.S. regulators and has a breakup fee embedded as part of the deal - but with pork products flowing from the U.S. to China - (instead of the reverse) - landing approval may be easier than in prior U.S.-China mergers. SFD +25.1% to $32.49, 4.6% below the deal price.
• Smithfield Foods (SFD) confirms it sold itself to Shuanghui International for $34 per share in a deal valued at $7.1B. The transaction is slated to close in the second half of 2013 after regulators weigh in. SFD +25.9% premarket to $32.70.
• UPDATE: Shuanghui Intl., Smithfield Foods Agrees to Combination, SFD Holders Will Receive $34/Share in Cash
• Smithfield Foods (SFD) is close to selling itself to China's Shineway, according to a WSJ report. A deal would land in the $4.5B to $5B range to mark a 25% to 30% premium over Smithfield's closing yesterday. SFD +23.2% premarket to $31.99.

Watch List Reason - Had relevant news in the morning, big gap up and great pre-market volume

Pre-Market Volume - 320%

Trading Plan - To go long above 27.00

Management

Entry Setup used: Many different entries.

Trading Comments

Tape reading was extremely useful today with this stock. It was clear that there was a very strong buyer at the stock. From time to time we could see prints greater or equal a 1500 done at the bid, and prices would just not drop. That gave me a lot of confidence to trade the stock in the morning. First half hour I don´t care about about what the market is doing, after that it confirmed that would try to move higher, which also helped the confidence in the up move. So I was building a position around and had a good position when above the up trend line. I was expecting it to explode at some point due to the amount of volume the buyers were taking, which never happened when I was positioned. When it broke the up trend and the 32.58 buyer dropped I closed the position with some profit.

Evaluation

I did a great job in sizing up and building the position at the stock. My trading plan was good and I executed it correctly, the trade just did not worked as expected. I was in control of my risk and adding / taking profits as the stock was moving up, manage to have a very strong position with a very good price on the stock.
Tape reading was critical to this trade cause I could see the buying pressure on the stock.
I also manage to be positive on the stock and for future trades, if I am able to execute as well as I did today, I am sure it will pay off big time.
Note: in the afternoon the stock move a 1.25 on an explosive move, probably because of the amount of buyer it had in the morning.

Trade Review - MRK - May, 28

Stock Selection Information

• UPDATE: Jefferies Upgrades Merck to Buy, Raises PT Following SOTP Analysis
• Three Big Pharma upgrades: Jefferies takes Merck (MRK) and Bayer (BAYRY.PK) to Buy from Hold and Deutsche Bank lifts GlaxoSmithKline (GSK) to Buy from Hold.

Watch List Reason - Stock got upgraded from hold to buy

Pre-Market Volume - N/A

Trading Plan - To go long above 48.00. 

Management

Entry Setup used: Long above resistance

Trading Comments

Reading the tape help a lot on this stock today. First the bids were being hit and price was not dropping. When it moved above 48.00, it was my entry signal confirmed by what I saw on the tape. Later the 48.30 level started to work as a resistance. When it broke above, it became by adding entry signal. Finally when it start to show that the sellers were hold prices, I hold out. 

Evaluation

I did not followed exactly what I had planned, closing my position before I wanted. My exits on the stock were not good. I could´ve taken a little bit more hit and get out at better prices. Still it was a good reading of the market, when I realized there was not much momentum, turning the positions into a holding one. Overall I was glad with the way I traded it.

Trade Review - HPQ - May, 23

Stock Selection Information

• The broad selloff isn't touching H-P ([[HPQ]] +14.2%) following last night's earnings. Jefferies' Peter Misek weighs in with an upgrade from Sell to Hold. He praises H-P for having the discipline to sacrifice PC market share to retain profitability (unlike [[DELL]]; Whitman (transcript): "Maybe that's what you do when you're about to go private.") Misek also likes the cash flow guidance of $7.5B - "(it) materially changed our view of H-P margin, cash flow, and EPS prospects."
• Stocks Hitting 52-Week Highs
• UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Hewlett-Packard Company on Expected Upward Trends
• Benzinga's Top Pre-Market Gainers

Watch List Reason - Earnings released yesterday after the close

Pre-Market Volume - 15.5%

Trading Plan - Go long at support: 23.75 or 23.50 || Go long above resistance at 21.25

Management

Entry Setup used: Momentum plays on both trades

Trading Comments

After a strong down move yesterday on the SPY, a bounce up was a possible scenario. HPQ had it´s earning released yesterday with a strong up reaction to it.
Today, at pre-market, it was trading in yesterday´s after-hours range. The possible supports were 23.75 or 23.50. When it open around 23.00, the bids were being hit, but price was not drop. Tape reading skill paying off this time again. Got it at 23.02 (after 2 stops) and the position develop. Momentum play to the upside. It slowed down around 23.30s and when it dropped I got out at 23.28.
It start to consolidate, and when it broke the consolidation up, another momentum play: got in at 23.49. This positions was held to 23.75. 

Evaluation

The first 2 stops were very small losses, but this is part of the game. When the positions start to work I made my money back. It was one of my goals for today to get back in stock after a winning trade. HPQ provide me an opportunity, that I took, but still can improve on this skill. After 10:00 there was a break I could´ve built my position, since it was trending up.

Trade Review - BMY - May, 22

Stock Selection Information

Benzinga's Top Upgrades
Citi upgrades Bristol-Myers Squibb (BMY) to Buy from Neutral and raises its price target to $55 from $33 saying the company's "very broad checkpoint agent [is] positioned to capture a very significant share of an emergent $24 billion checkpoint agent market." Citi also hikes its FY17 EPS forecast by 31%.

Watch List Reason - Upgraded from Neutral to Buy

Pre-Market Volume - under 3%

Trading Plan - To go long above 45.50

Management

Entry Setup used: Open drive flag pattern

Trading Comments

Tape reading helped on entry, were I identified a seller around 45.65. It lift price once, but fail to continue, so I closed position. Then it lifted again, but this time it did not fail. Also the 46.18 level is were sellers start to hold.
The re-entry level was 45.75. There was a big buyer spotted at that level in the tape.

Evaluation

It was a good trade, but I made a mistake on execution when I did not get out at 46.05. My order was ready, but I did not have my screen correct selected. When I hit enter, it did not send the order. Still I manage to get out at 45.96.
Also I must learn to get back in. After closing a successful trade, must fine the stop where I would get back in again. 

Trade Review - WCRX - May, 20

Stock Selection Information

Actavis to Acquire Warner Chilcott in $8.5B Transaction; Price is $20.08 per Share

Watch List Reason - Relevant news on the stock. 

Pre-Market Volume - 15%

Trading Plan - To go long above 19.50

Management

Entry Setup used: Consolidation above support

Trading Comments

The stock gap higher and sold off right before the market opened. When the down trend was broke, and stock start to consolidate at the 19.50 level we started looking for long entries.
The tape reading skill was fundamental for this trade. There was a fight between the 19.50 seller and the 19.48 buyer. Every time it drops the 19.48, immediately we could see the buyer stepping up again. As soon as the 19.50 seller was done, prices moved up.
The plan was to add to the position as soon as the 19.59 offer appeared and so I did. 

Evaluation

It took me a couple of stops to get the right time of the trade, but that´s just how things work. The plan was to get in at the consolidation, cause as soon as the seller was done price would move fast up (as it did). Did a good job there.
Adding to the position as it start to work was a great thing, cause it allowed me to control my risk pretty well. I followed my plan to take profits fast and to close the position at 19.80 but I must adjust this plan. The correct response would be to take profit at 19.75 and to hold the core for the final target at 20.00. I did not believe it would get there, but it did.
Even with the mistakes it was a great trade.

Trade Review - CSCO - May, 16

Stock Selection Information

Cisco (CSCO) is now up 9.4% premarket following last night's earnings and guidance. Lazard's Ryan Hitchinson notes guidance was light, but likely beat a lot of the whispers out there. He also believes management is remaining conservative amid improving demand trends. A bellwether no more, Cisco's moonshot is having little effect on the [[QQQ]]s, which are barely green at the moment.

Watch List Reason - pre-market mover. Not in trading idea sheet. Added after 9:00

Pre-Market Volume - 38.39%

Trading Plan - To go long above 22.00

Management

Entry Setup used: Fail to break down support.

Trading Comments

Tape reading helped a lot to get in at this trade. At the level the bids were being hit and there was a lot of volume done, but the prices were not dropping. Bids were holding and a lot of buying. So I got long at 23.48.
When it broke above the 23.50 level momentum up was strong. Around 23.75 momentum start to dry of, also identified from the tape, so I closed the position.

Evaluation

It was a great trade and very well executed. I did not see other reasons to get in after that and do not regret the exit. First 30 minutes of the day is for momentum trades. When momentum is done (the reason why I got in the trade), I must exit.
I could´ve added to the position when it broke above .50 level. This is the only thing I need to learn how to do in this momentum based strategies. To go "all-in" cause usually they are good trades. In that scenario holding some stocks for next up leg momentum might be possible. 

Trade Review - M - May, 15

Stock Selection Information

Macy’s (M) declares $0.25/share quarterly dividend, 25% increase from prior dividend of $0.20. Forward yield 2.11%. For shareholders of record June 14. Payable July 01. Ex-div date June 12. The board increased share repurchase authorization by $1.5B, bringing the total share repurchase program to approx. $2.6B as of 04 May. (PR)

Macy's (M): Q1 EPS of $0.55 beats by $0.02. Revenue of $6.39B (+4% Y/Y) in-line. (PR)

Watch List Reason - Earnings before the open

Pre-Market Volume - 6.56%

Trading Plan - To go long on a break up above 48.00 or to go long at a support level at 47.00

Management

Entry Setup used: Pre-market range break up | Pre-Market range fail break

Trading Comments

First trade was taken and it was a good entry. As the market was correcting and most stocks were failing to break pre-market range, this stock was hold. And there were buyers taking the offers, but the trade was stopped out.
Second trade was a really bad one. My plan was to go long if it break above the 48.80 level, but it never did. My anticipation cost me money. When it failed, I believe it would not continue the up move and soon would follow the market. So I shorted it on a failed break, but at a bad price. Should offer it around 48.70.
As it started working, I was concerned with taking the profit but had my target at 47.01, but I decided not to wait for it an closed the position. Tape reading helped me to get out of the position and to see it was hold the level in the open.

Evaluation

I don´t think it was a great trade, but it worked. My entries were not all good ones, mainly the second entry when I tried to anticipate the market, but it helped me see the stock was no longer strong.
Last exit should´ve been at my target and not to take profits. This was my plan. I must correct this and improve my morning sessions,cause I am not being very efficient at them. 

Trade Review - APOL - May, 14

Stock Selection Information

No relevant news on the stock. It was among the top positive for the day.

Watch List Reason - It was among the top positive for the day.

Pre-Market Volume - N/A

Trading Plan - To go long above 20.25 on a pull back strategy

Management

Entry Setup used: Pull back strategy 

Trading Comments

Tape reading skills help to identify the 20.25 level. Buyers was not dropping this price. After it broke above the high of the day with increasing volume, I waited for the pull back and got a very good risk/reward position. 0.03 risk for a .30 profit (1/10).
Since I was expecting the market to make a sideways move or a correction I kept the stop on a close watch.  The stock traded further to 20.75, but closing the position was the best choice when it fails to continue above 20.55.

Evaluation

I made two mistakes on this trade:
1-) I did not added to the position - this is a goal of my trading journal and I could not see a clear reason to add to the position, but I should´ve done it when the position start to develop.
2-) Fail to get back in the position - the stock was respecting the trend up so I should´ve got another long position around 20.40s.

Besides that it was a good trade with great risk and reward. 

Trade Review - MDVN - May, 10

Stock Selection Information

Goldman Sachs Reiterates Buy Medivation Ahead of Q1:13 Earnings Report

Benzinga's Top Initiations

Watch List Reason - am vol - it was an idea from the morning sheet. Stock had good volume, greater than it´s normal average, so it was in my list.

Pre-Market Volume - N/A

Trading Plan - To short the stock if it breaks the counter trend from midday. 

Management

Entry Setup used: Counter trend break down - target the VWAP

Trading Comments

Stock made a strong down move in the morning and consolidates (sellers in control). During midday it moves in the opposite direction (the counter trend). When it breaks midday trend line up, look for short position. First it consolidated below the trend line, I got in, but got stopped out. Then a divergence in CCI suggested another entry with good risk / reward. I try adding to the position at 51.30 (no trade was conducted at this price during the consolidation), but my offer did not get taken. When prices fail to continue down close to 51.00 I closed the position.

Evaluation

My worst mistake was not to add to the position. I tried but my offer did not get taken. Also the target was in the VWAP. If I have manage to add to position I would close partially at 51.06 and hold the core position for the final target at 50.70s / 50.60s. Still it was a great trade.
Must keep in mind that the first trade in the stock was an aggressive one. This would be a better choice if the market was weak, but since it was strong a more conservative approach would´ve been better.

Trade Review - RAX - May, 09

Stock Selection Information

Mid-Morning Market Update: Tesla Soars on Earnings as LivePerson Gets Crushed
Morning Market Losers
UPDATE: FBN Securities Downgrades Rackspace to Underperform Following FQ1 Miss, Lower FQ2 Guidance

Watch List Reason - Earning released yesterday after market closed

Pre-Market Volume - 10%

Trading Plan - Strong  support @ 41.00. It fail to hold above this level after testing it, so my plan change to short it.

Management

Entry Setup used: Open range break down

Trading Comments

Stock made a strong move down on earnings and consolidated yesterday. Today during pre-market it consolidates below yesterday´s range. After the open again it consolidated below the pre-market range. So I shorted when I saw a strong seller coming in around 40.25

Evaluation

It was a very well executed trade. I could´ve held it longer, but it was before 10:00 and my target was the projection of the range down for a .50 move. When it hit my target I got out. I was risking .07 cents to make .50. this is a very good risk / reward trade.

Trade Review - VCLK - May, 08

Stock Selection Information

UPDATE: Cantor Fitzgerald Downgrades ValueClick to Hold Following 1Q Results
Benzinga's Top Downgrades
Had it´s earnings released yesterday, not as the market expected, but it was trading at a long term support level, had pre-market volume and trading below after-hours range.

Watch List Reason - Earnings released yesterday and pre-market volume at a support level

Pre-Market Volume - 44%

Trading Plan - Go long if hold above 26.00

Management

Entry Setup used: First entry was based on a flag play that failed. Second entry was on a held bid @ 26.00.

Trading Comments

Tape reading helped to identify the held bid at the 26.00 level.
Also it was a good decision to take some risk off, as the flag play failed. Target for the trade was 27.00 but I got out before that for no reason (other than to take profits)

Evaluation

The entry was a good one, but I was not too happy about my exit. The plan was to hold for a target at 27.00, that would´ve been reached. Had to keep in mind to adjust stops instead of taking profits this fast.
Still it was a great trade. I had it under control and within my risk parameters for the day.

Trade Review - JNPR - April, 24

Stock Selection Information

UPDATE: BMO Capital Markets Lowers PT on Juniper Networks on In-Line Results
Had it´s earning´s released yesterday after the market close. The reaction to that was the stock trading lower.

Watch List Reason - Earning yesterday after the market opened

Pre-Market Volume - >15%

Trading Plan - Shor the stock below 16.00 support area

Management

Entry Setup used: Open Range Break Down

Trading Comments

Tape reading skills - Seller identified at 16.10 and buyer identified at 15.95. When buyer dropped, I hit the bids adding to the position.
Big buyer was also identified at 15.91 which caused me to close half of my position. 

Evaluation

The trade was well executed, but I could´ve load up with 300 when it lost the 15.94.
Also could´ve waited it to reach my target to close the core position at 15.75 and not 15.82 as I did. Just need to correct these things to improve my trading. 

Trade Review - COH - April, 23

Stock Selection Information

UPDATE: Coach Posts Upbeat FQ3 Profit

More on Coach's (COH) Q1: Sales in North America rose 7% Y/Y to $792M led by the direct-to-consumer channel while international sales increased 6% to $382M. A big focus on the Men's business appears to be paying off for the retailer with sales on track to double to over $600M this year. The company raises its annual dividend payout by $0.15 to $1.35 per share.  (PR)

Coach (COH): FQ3 EPS of $0.84 beats by $0.03. Revenue of $1.19B (+7% Y/Y) in-line. (PR)

Watch List Reason - Earnings before the open today

Pre-Market Volume - > than 10% 

Trading Plan -  Go long above 56.00

Management

Entry Setup used: Support on the 56.00 level (pre-market range with good volume)

Trading Comments

It was clear that there was a buying pressure when watching the tape. Could see the offers getting taken faster. I saw a catalyst that drove the first up move above 56.00 when a big buyer came in.

Evaluation

Must not double down. I had justifications to it, but still is a trade mistake. The only good thing about this is that I had my risk under control. Even know I was doubling down I followed the position to see if it was within my risk parameters.
Did a good job in adding into the other positions, Including the last add that got me stopped out of the position and broke the up trend. If the stock were to continue in the up trend I would´ve have a great and strong position. Besides the trade was already in the positive side. The target would´ve been the top of the pre-market range. 

Trade Review - DHR - April, 19

Stock Selection Information

Stock had it´s earning released yesterday.

Watch List Reason - ybefore (earnings yesterday before the market opened - 2nd day)

Pre-Market Volume - N/A

Trading Plan - Long > 58.50

Management

Entry Setup used: Support trade

Trading Comments

The offers could not hold below 58.50 and it could not trade much below this level. Latter my tape reading skills help to identify the 58.54 as a support level were a buyer held the bid. Below that level was my stop.
CCI divergence aid to confirm a potential support and the entry and also a place to take some profits.

Evaluation

The trade was perfectly executed. My best trade of the day. I also manage to add to the position at the right timing. Since the market was in a more sideways day, I took the profits close to the 58.75 level. If the market was moving (either way) I´d probably have held the position a little longer.
My failure: when it got back to that level again the offers were quickly taken and there was another entry possible with the same strategy, but I did not take it. 

Trade Review - EBAY - April, 18

Stock Selection Information

Ebay had it´s earnings released yesterday after the market closed

Watch List Reason - Earnings yesterdays after the close (yafter)

Pre-Market Volume - 5%

Trading Plan - Support @ 54.25 || Resistance @ 55.00 - play it on the short side

Management

Entry Setup used: Open Range Break Down | Resistance | Consolidation at Resistance

Trading Comments

First trade based on momentum. There was a lot of weakness in the tape. As soon as the bids started to get hit by the sellers, I hit my trade. Waited for a strong momentum to move prices down.
Second trade was a frustration when the platform did not take my offer. Still, I followed the price movement.
Third trade was easy money after the buyer that was holding prices dropped the bids. I could´ve been more aggressive with the position.

Evaluation

First trade was perfectly executed. Took profits and when it fail to continue the down move, the position was closed.
Second trade was a frustration when the platform did not take my offer. Still, I followed the price movement. Added experience, which is very good.
The last trades were really good ones. It took a while to develop, but once it did it was great. I should´ve added to this position and the final target was for it to return to VWAP (value). I am getting better at this type of trade, but still need to work on it.

Trade Review - YHOO - April, 17

Stock Selection Information

UPDATE: Jefferies Raises PT on Yahoo! on Mixed 1Q13 Results
UPDATE: Credit Suisse Raises PT on Yahoo! on Mixed 1Q13 Results

UPDATE: Topeka Capital Markets Lowers PT on Yahoo! Following 1Q13 Earnings Report

UPDATE: Bank of America Upgrades Yahoo! to Buy on Weaker Revenue Trends, Good Asset Value

Earnings release yesterday after the market closed.

Watch List Reason - Earnings after the close yesterday

Pre-Market Volume - 17.80%

Trading Plan - Trade the extremes of pre-market range.

Management

Entry Setup used: Fail to break above pre-market high.

Trading Comments

Bids were being clear on the way down. Sellers took control after it failed to break above. As it came close to pre-market range low buyers step back in and we closed the position. 

Evaluation

It was not a great trade because I did not followed my plan, but it was a good trade. I took half of the position as it was moving in my favor. A big buyer appeared on the bid, but he got taken really fast, meaning sellers were in control. The correct exit would be on the bottom of the range.
I got a bad print when I tried to get out. Could´ve considered switching the position.

Trade Review - C - April, 16

Stock Selection Information

UPDATE: Credit Suisse Raises PT on Citigroup Following 1Q13 Report
Also the stock had an earnings release yesterday.

Watch List Reason - ybefore - 2nd day in play

Pre-Market Volume - 3%

Trading Plan - Sup @ 44.25 | Res @ 46.00 - 60Range

Management

Entry Setup used: Support Fail break | Consolidation near support | Consolidation near support

Trading Comments

First trade - was expecting the market to hold this level and return to the top of the range. As the seller appear, I had to close the position and a short could be in play.
Second trade - The seller start to hold the offer. It was a good entry point. Could´ve added as momentum was in favor fo the trade.
Third trade - There was a buyer holding the 46.15 bid. They never showed the 46.14. He was refreshing and holding ground. First time we saw a 46.14 bid we hit it. It was a great trade.

Evaluation

First trade - it was a good trade with a good risk reward but sellers start to hold. Market was not looking so good. Had to close
Second trade - I close the position at the place I should´ve added. It could have been the trade of the day. Too bad I mad this mistake. Still manage to take some money out of it.
Third trade - Was a good trade. Market was not giving much opportunities and was on strange moves, so I was taking quick profits when I could.