Gapped down and waited for a better entry. Initially it moved down a bit before consolidating sideways and volume drying up on level 2. Took a small loss on it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-05-20 09:48:41 | NTLS | sell | $11.760 | short |
2014-05-20 09:48:41 | NTLS | sell | $11.760 | short |
2014-05-20 09:48:42 | NTLS | sell | $11.760 | short |
2014-05-20 09:48:42 | NTLS | sell | $11.760 | short |
2014-05-20 10:28:49 | NTLS | buy | $11.940 | short |
2014-05-20 10:28:54 | NTLS | buy | $11.920 | short |
2014-05-20 10:29:01 | NTLS | buy | $11.930 | short |
2014-05-20 10:29:01 | NTLS | buy | $11.940 | 0 |
Bit early on that short.Look how it faded once the EMA caught up and failure to take out whole number 12. http://prntscr.com/3l2ddd
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Remember round numbers are key levels of resistance/support. Once it fail to get back over $12 and started to break down, that was your opportunity to short it with a stop just above $12.