Entry Price: 16.85
Stop Price: 16.50
Price Target: 18.60
Return $: 4200
Risk $: 840
Strategy: Swing, pattern breakout, brother stock pattern
Reason for trade: The price did not swing down in the manner I was expecting toward the low 16’s today. They instead began consolidating around 16.80. This failure to break down accompanied with favorable intraday and daily chart setups on brother stocks ANR and BTU, I decided to enter WLT on a potential 5 minute channel breakout.
Actual Sell/Stop out Price:
Mistakes: a day before making this trade I forecasted that price would move to test 16.28 before making a significant move higher, well it did that the day after I bought. Another show of impatience by me.