sold 19.16
reason for buying:
- gold's been down many days, street consensus has been to pick up some gold at this levels, so there is demand coming in
- spy topping out making lower highs
- gld basing, making higher lows, making pattern of c&h / inverse h&s on 20min timeframe, with 5, 10, 20, 50ma all providing price support
- I had a bad entry price, i got excited and jumped in without waiting for pullback
- I had to sit through some pain as the spy wiggled in descending triangle on 5 min, and that triggered dgp's pull back to 18.91 at 11:05am
- that being said i had conviction in the setup, so I waited out..but the volume of the break out past 19.10 wasn't impressive to me, so I got out.
- bad trade...bad entry played with my head the whole time and made me look for exit immediately because I had some size.
- and yes...the stock went to 19.35! god damnit...alot of profit left on table...but my mind just wasn't there to sit through this.
- i need to consider this a losing trade because even though I had a profit, I didn't play according to plan..and this is the kind of trade that i need to look back to for correction.
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