Was trying to trade anything here... getting bored and looking for something that wasn't there. No setup.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-05-22 13:53:59 | ROYL | buy | $3.690 | long |
2014-05-22 14:00:32 | ROYL | sell | $3.660 | long |
2014-05-22 14:00:58 | ROYL | sell | $3.660 | long |
2014-05-22 14:02:36 | ROYL | sell | $3.660 | 0 |
Agree with ftai - I shorted at that exact spot. It had the 9 and 20emas above, with a stop just above them. ROYL is a notorious fader too. If you look at that daily chart and all those long wicks on the high side = fader.
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The stock is in a downtrend. Your entry was a perfect short spot.