NG : NovaGold Resources Inc.  |  Long
Trade Plan

Downward momentum seems to have played out.

Price is oversold, bullish divergence in MACD, MACD-H has turned up.

Let's see if we can grab a position at todays low tomorrow with a tight stop.

Note! Price of this stock is on the low end, so position size reduced to half.

Daily chart:

Trade History
26 Jun 0203 | 04:38
Entry   Quantity: 10,000  ⟩  Price: 1.94  ⟩  Target: 2.08  ⟩  Stop: 1.90

Got filled almost at low of the day (which was 1.93). Bullish MACD-H divergence still in play.

28 Jun 2013 | 08:28
Exit   Quantity: 5,000  ⟩  Price: 2.06  ⟩  Target: 2.08  ⟩  Stop: 2.04

Explosive move out of the gates this morning. Selling half here to protect profits and have set new tight stop on remaining half of position.

Will monitor closely from here.

28 Jun 2013 | 10:19
Exit   Quantity: 5,000  ⟩  Price: 2.09  ⟩  Target: 2.08  ⟩  Stop: 2.04

Position closed on tight trailing stop to grab profits here as I don't want to hold over the weekend.

Review

15 Jul 2013 | 13:49

Did I follow my trade plan and strategy?

Yes. Good discipline.

What did I do right and wrong?

Very well executed trade but should probably have tried re-entry where annotated on chart below for a low-risk entry when bottom was re-tested. 

Overall Analysis

Captured a good part of the upmove - good trade with a nice 6.43% quick profit.


Chart as of July 15th 2013:

 

Comments

Comments
Trade Plan Summary
Plan Date
24 Jun 2013
Name
NovaGold Resources Inc.
Direction
Long
Strategy
MACD Divergence
Checklist
Not fully checked | View
Broker
TD Ameritrade
Quantity
10,000
Planned Entry
1.93
Total Cost *
19,320
Target Price
2.08
Protective Stop
1.90
Potential Profit *
1,480 (7.66%)
Potential Loss *
320 (1.66%)
Reward/Risk Ratio *
4.63
Actual Trade Summary
Quantity
10,000

# Entries
1
Entry
26 Jun 0203 | 04:38
Entry Price
1.94

# Exits
2
Last Exit
28 Jun 2013 | 10:19
Avg. Exit Price
2.075

Commissions
29.85

Net Profit
1,320 (6.79%)
Labels
Oversold - Bullish setup Overall market: Short term bullish Exit: Target hit
Up-to-date price chart
View chart

NG : NovaGold Resources Inc. - Long
  • Entry date: 26 Jun 0203 | 04:38
  • Entry price: 1.94
  • Last exit: 28 Jun 2013 | 10:19
  • Average exit price: 2.075


×