This stock was one of my main in play stocks. At around 9:38 I saw that the buyers were beginning to exert themselves below 30.74 and so entered the trade looking for a move to 31. I didn’t take the profit immediately when it presented itself and then held the trade through the subsequent upswing and back down through the refresher at 30.74. The problem I realize was twofold: first, not taking the quick profit on the spike in price right after entering the position, second, after missing this spike interpreting the information in the level 2 in a way that favored my plan – a push back towards 31 and then the highs – rather than objectively.
DTG was another one of my in play stocks today. I was watching the 73 level from the break earlier in the day. The stock was forming a nice consolidation pattern underneath the level and as it broke I and held the offer I took the stock long. I exited the trade on the first big down candle which ended up costing me some upside (note: 3 minute timeframe on this chart). This trade was my best trade for the day because I formed a good plan and managed to execute it at a good price. The trade was positive right off the trigger.
I have some tape which I will post later in the week for these trades as well as the initial break on 73 for DTG which I think is a good example of a “zone” of resistance with multiple refreshers verses a single price.