Intraday Scan. Bad Setup. Should have got out earlier when it just based and did nothing. STOP at buy price.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-06-03 14:05:00 | MHLD | sell | $11.373 | short |
2014-06-03 15:35:00 | MHLD | buy | $11.369 | 0 |
A lot of selling pressure on the daily. I like the idea of a breakdown setup that may retest lod. The difficulty with your entry is that it was closer to first support than to your risk(stop loss). With no volume for a long time you could exit early for a small gain and look to re-enter with another setup if volume arrives.
I didn't notice that hawk re: RR. wow. Now I really don't like this trade...
Thanks for the feedback.
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It kind of faked you out when it broke below the previous low, looking like it was going to keep going down. I get stuck in these a lot (at least 2-3 times a week). Nice management of your stops to limit your losses.