I traded 2 stocks today CHK and CENX.

My first trade was CHK I looked at the daily chart and I saw that $6.56 was resistance.

So my trade plan was to get long on any push towards the resistance and sell once the stock gets into the $6.40’s. If the price action confirmed $6.50’s was going to hold I would get short and let the stock fade off.   

Daily chart

I stated my long position at $6.28 with small size, CHK moved up and touched $6.37 but pulled back with that being the HOD. I sold my shares at $6.20 for a small lose.

2 minute 

CENX

I missed the first move on the long side a buddy of mine alerted me to this but I was in CHK and didn’t want divert my attention.  CENX went from $7.4 to $8.78 (HOD). The stock pulled back to the $8.50’s and bounced off I got long at $8.66. I wanted to see the $8.70’s reclaim and push towards the whole dollar mark of $9.  CENX did reclaim 8.70’s but it couldn’t hold it. I sold my shares at $8.60 for a small lose.

I then started a short position at $8.56 and I covered my short right above the VWAP for a small gain. I wish I would’ve keep watching CENX because broke through the VWAP and retested it and was stuffed and it went down to the low $8’s before grinding back up.

I’m glad I had the mental agility to see the trade not work and flip my position without any real issue like second guessing myself or anything like that. Over all I’m down $50 on the day but I’m happy with the day’s trading over all.