I liked the AM setup - previous potential flat top breakout PLUS pivot level resistance. Instead it pulled back, supported on MAs, then geared up towards that pivot level again. As I was entering ticket, it moved up a few cents and eventually broke as I anticipated.
I flattened position when it got to breakeven as punishment for not selling the .20 move I saw. My intention was a daytrade unless it proved to be a solid move higher before pulling back. I couldnt not let myself see a green to red. As safety I would rather bail at b/e and re-enter, which I did when it proved to be a safe hold for now. That second trade is still in play so it's not yet posted here. I re-entered when it broke the same pivot I was watching earlier @ 29.28.
Daily chart says potential bottom with it acting relatively strong on a big down day in SPY.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-01-30 09:58:26 | M | buy | $29.200 | long |
2017-01-30 10:46:55 | M | sell | $29.220 | 0 |
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