Thursday, May 7, 2015

05/07/2015 Trade Review

ADXS was bear flagging on the daily as shown on the chart below. Note the last candle represents today. I was short biased.

Intra-day ,I was looking for a push to 19.50 - 20 and fail  for a short.  As you can see below,  it ran to 19.55. I waited for a lower high and entered at 19.09. I also used the vwap for more conviction. As you can see the stock failed to break above vwap. I took profits too fast, but I was able to stand with one major rule. Respect my stop. I had a stop above vwap.