This morning we had a perfect example of "chase the gap strength, or wait for VWAP"
NOVA gapped higher and then triggered a buy thru 3091, that buy should not have been taken, because the stock was extended at that point.
Instead, the stock should have been watched closely in relation to the daily VWAP. After the stock pulled back for a few minutes and crossed below the VWAP, it then reclaimed VWAP and should have been purchased between 3065-3075 with the original stop still intact, or if you preferred a tighter one, then below the LOD.
As for taking 1/3 off at R2 of 3205, that would have resulted in a gain of $1.30/shr, but if you had waited for the stock to break a new low on 2 minute chart, you would have sold at 32.25 for an additional 0.20/ share.
The ART of trading, vs the SCIENCE of technical analysis!