SPY gapped down at the open and was pulling back to ma's. I thought it was doing a quick pullback, so I wanted to enter a short setup. Stock remounted below the 50 sma on the daily. It was also in a bear flag pattern so I figured it was gonna break the flag, so I wanted to get in early. sold into a quick pullback. Got stopped out soon after. My mistake was not waiting on the market to choose a definite side (in hindsight I can see that it was in a range) before entering. Also, there was no breakdown/breakout/bounce on the daily to signal me to start looking for entries intraday.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-03-27 09:57:00 | EXEL | sell | $20.590 | short |
2017-03-27 09:59:00 | EXEL | buy | $20.700 | 0 |
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