Wednesday Midday - HOLY SH*T... HERE WE GO!


     Finally closed out the AMSC breakout. All of my holds from yesterday made me money. TSM was the nicest gap since I got out right near the highs, which was my target. AMSC netted me $915, a very nice technical play. Below is a 1m chart with the patterns that I was looking at. I didn't catch the best breakout price which was about $12.80s, but when 13.15 was holding on the tape, I knew I wanted to get in for a trade towards $14.30 (yesterday's a/h level). At ~$13.80, it consolidated the large move where I took some profits, and was stopped out when the $13.52 bid dropped. I got back in at $13.57 when $13.52s held again. The rest was just profit taking starting with $14.10 all the way up towards the $15 pre-market level from this morning. How could I have traded it better? Notice the trend line after it broke from the second triangle? Take a look at the second trendline from about $14.10. The parabolic shape and upward curvature should've been my stop. This was a momentum play that should be held until volume exhausted itself, not seen until +$15.20. Overall, I'm happy with this setup but I must ask myself, "How much money did I take vs. what the stock offered?" How would you have traded this setup?



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