Should have taken the quick bump on fed news, thought it would last longer. Cut losses
Practice
Swing trade. Stock was in very consistent uptrend. Clearly bounced off trend support and prior resistance level. Had been testing $64.50 resistance for several weeks and decided this bounce would be the final attempt to break it. Plan going in was to patiently trail stop on daily chart with a final target of $67. Didn’t quite make target. Sold on failed continuation of intraday move end of week. Stock still in play, but glad I took profits. Nice 4R trade.
Entry comments: This was a failed breakout over 55.25 which was also an old resistance level. I waited until it completely failed the breakout and got in on a little bounce. The bounce had less volume than the drop and I'm risking over HOD
Exit comments: Added more shares after it failed to get over 55.25 again I don't like how it is holding up still above the 55.70's since it bounced in this area earlier. I'm just going to play it safe and get out. Would have been better if I had a better entry closer to 55.25
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