PINS made a beautiful move this morning with its first 15-minute candle covering $3.00, which was nearly 9% of its price.
It was one of four one-and-done's that I had configured to run. Unfortunately, the other three, AAPL, MSFT, and QCOM, had weak opening candles, so they were all filtered out, only to climb strongly in the following minutes. Dirty tricks.
Any Trade Unafraid user is able to set their own setups and filters. Maybe you would have caught those with your trade parameters.
Still, I happily caught almost the whole move in PINS for a gain of $272 on eight contracts.
So often, following a strong move, when price respects the 8EMA the way PINS did on the 15-minute, you can expect to see follow-through, maybe even a measured move, which could have brought price up near 39.00, so I decided to put some of my morning profits on the line.
I saw a series of inside bars and expected another leg higher to start from there. So I bought the next break of a 15-minute candle (note the magenta line). Sure enough, price did start heading higher, and my three calls were about $65 dollars green. Unfortunately, I had set my first target at .25 cents, believing that this was the start of a larger move. The first target was missed by just a few cents, and then price started to drop. When my 15-minute candle trailing stop kicked in, I wound up with an exact scratch trade. No harm, no foul.