I got out because it was not my idea, even though it was flagging and I knew the spike was coming. I chased and followed, and that is not a good way to trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-08-22 13:58:10 | TWTR | buy | $45.760 | long |
2014-08-22 14:39:25 | TWTR | sell | $45.760 | 0 |
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You nailed it: huge chase and you know what was wrong with it. Got lucky that you were able to get out flat. Always consider how extended the 1 min and 5 min charts are. Anything more than 2 candles up is usually a huge chase.