I called out for DDD to go long twice and wanted to add above a certain level but never triggered and this long did not work.
Let's have a closer look at each calls and see why that was the case.
As per my trading plan, the real entry to this stock is above the 1st 5 min bar, that never happened. But I do a pre-empt entry if I like the stock due to earnings. Hence I entered this with a very small size and a tight stop so that I do not miss it if it goes my way.
1st entry on this came very early but due to the big bar, the entry was much higher that what I would have expected. IF you look at the daily consolidation and consolidations on the 60min chart, you will see an area of lot of resistance. Generally people who have been long on this trade will take profit or will try to exit out at these areas. WHen the stock did not hold the 36.4ish area on the 1min chart, I exited the 1st trade.
Another entry on this came a bit later when the stock touched the low of the day BUT did not fall below the Low of the day. Again this also did not work as the price failed to go higher the prior highs and the 1st 5 min bar.
Want to do day trading for a living? Want to lean how the stock market works? Learn to invest in stocks and start investing to save for retirement.I teach my day trading strategies and call out on real time basis on twitter and stocktwits? Learn the way I trade and make consistent returns. Check out my strategy all in one place - http://agaptrader.com/Trading_DVDs.html
