Entered short as price broke below consolidation at 11.90. Stopped out on pop back up through emas. Price fell to 1R and quickly popped back up. Stopped at .06 loss on .07 risk.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-06-05 12:05:09 | TSL | sell | $11.900 | short |
2014-06-05 12:34:49 | TSL | buy | $11.960 | 0 |
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You had the right idea, however, I think your execution was a little early. I think you based your risk off of prior day lows (i.e. $11.90 / $12 area)? The stock ran down from $12.10 to $11.90 for 45 mins (5 min chart) before you got which is extended to the downside. It needed to take a break and consolidate. Perhaps be a little more patient and wait for a good intraday setup before getting in such as this bear flag:
http://screencast.com/t/AiW6BLqR