Wednesday, October 22, 2014

BlackHawk Down Stopped Out HAWK

It took just a  day, but HAWK broke the other way. I got stopped out at 32.99. 

Why didn't this trade work?  

For me it's a case of seeing what i wanted to see.  I had some primacy bias as I just had a big winner in AGIO so I saw the parts of that setup in HAWK. Would I have taken HAWK otherwise at that point, probably not. I  jumped the pattern in HAWK. It's a setup that works but it usually needs at least 15 days before its ready. HAWK was only 9 days in and the first b/o attempt failed. Also there is a gap from 32 to 33 that called out to be filled as angle of the price action trended towards that gap like a magnet.

Fortunately, I kept the loss small enough  -.65R to avoid damaging my equity balance.



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