Price action sort of looked like a double top... but my entry was poor and wasn't at a key level to risk against... also.. SPY's were bouncing on high volume and so that should have been enough (combined with time of day) to be more selective and patient on a short entry.
Also, on the 5m chart it was clear to see that it was actually just a higher low of a bottoming formation... sometimes the 1m can be deceptive during the midday hours.
I did get a bit unlucky with how quick it reversed up (because SPY did a huge short squeeze) right as I got short... but either way... I shouldn't have been in the trade anyways.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-03-25 10:48:02 | AMD | sell | $26.090 | short |
2019-03-25 10:55:33 | AMD | buy | $26.230 | 0 |
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