VWAP bounce setup that failed due to selling pressure. Entered $4.78 anticipating test of VWAP at ~$5.65. Setup invalidated when selling pressure accelerated through support levels. Technical issue: Pre-market algo stops don’t execute on IBKR, requiring manual limit order intervention. Intended stop at $4.55 resulted in actual exit at $4.32 due to fast-moving price action during manual order placement. Net slippage: $0.23 per share. Lesson: Pre-set manual limit stops for pre-market trades.
Entry comments: I bought as close to the bottom of the consolidation as I could. Very choppy stock, but I think it can squeeze. I set the risk a little wider here as I have been stopped out twice this week on a wick and I do think that it can go 5-10%.
Exit comments: I tried to hold for longer, but the price was struggling and the fluctuations became fast. Just after my exit the price quickly shot to 6.22 before failing. I think I exited this one just right.
Cobra Upload 4.9.25
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