Monday, May 2, 2011

AMZN - BREAKOUT CONTINUATION PLAYS

DAILY - AMZN MAKES NEW ALL TIME HIGH

30MIN - BREAKOUT FROM MULTIDAY WEDGE

10 MIN

1MIN
MISTAKES
  • I was a little lake on the first breakout play, but risk was clearly definable.
  • I shouldn't have stopped, should have continued trading the inplay stock. Very awesome R:R shorts as price was so extended to the upside away from vwap.
 What I did right:
  • I let the winners run
  • I got in again when price resumed its final leg up. Again, risk was well defined and I had let winner run.
  • Defined targets with measured moves and sold when momentum slowed down or price gone parabolic with big volume.

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