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hi mark,
I exited there for a few reasons. Exits are generally much more complicated than entries but the concepts I was thinking about included:
1. my strategy is generally to look to enter somewhere not too far away from VWAP and find an exit once it has moved a good distance away from VWAP.
2. note that there was a 400 tick buy divergence on the push to 1451.00
3. I was looking for a lower afternoon low --- you can see that this objective was met.
net net, the market acheived my objective so I took the gain. waiting for the stop to get hit gives up too much IMO.
attached is the buy divergence and a very simple indicator I wrote that marks a dotted line at VWAP +/- 10.00 pts... sometimes it goes less, sometimes more.
hope that helps. |
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Hi Dogpile
Thanks for the chart, that was a very graceful exit.
Mark