I saw that this was reversing trend but also thought that it might hit resistance and turn bearish again. This was one of the bad, emotional trades that I took.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-05-23 12:53:54 | ITMN | sell | $39.620 | short |
2014-05-23 12:53:54 | ITMN | sell | $39.620 | short |
2014-05-23 12:53:54 | ITMN | sell | $39.620 | short |
2014-05-23 12:53:54 | ITMN | sell | $39.620 | short |
2014-05-23 12:53:54 | ITMN | sell | $39.620 | short |
2014-05-23 13:41:00 | ITMN | buy | $39.770 | short |
2014-05-23 13:41:01 | ITMN | buy | $39.770 | short |
2014-05-23 13:41:01 | ITMN | buy | $39.790 | short |
2014-05-23 13:41:01 | ITMN | buy | $39.790 | 0 |
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Short inside the flag is risky - similar to how I was trading Thursday. Also the daily looks convincing for a long trade but would make me wary of shorting even on good setups.
I do like the big red volume bar right before your entry.