Morning started out a little rough with a full 1R loser in UA. I tried to anticipate the 75 breakout and ending up buying near the highs. I got long 700 shares at 74.90 with a stop at 74.50, stopped out at 74.45. The first mistake was not waiting till 75 was taken out, volume was average and daily spot still needed time. Second mistake was not exiting before my stop was hit. Once I realized that 75 was not going to broken I should have bailed on the trade for a small loser before my stop was hit.
Second trade got long 800 shares PLCM at 61.50 with stop at 61.20. I exited my entire position at 62.05 right under R2. Volume was great on the breakout and never came close to testing the 61.50 breakout. I should have held at least 25% for the bigger move. All the EMA's that I follow were still below and trending upwards, really no reason to exit entire position.
Will update this post if I make any more trades.
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