Gap down and rises on low volume to the falling 9Ma. Short with stop -.60 (waited for confirmation). Target +1.50. Stopped for loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-06-25 10:12:50 | MPC | sell | $81.250 | short |
2014-06-25 10:20:09 | MPC | buy | $81.800 | 0 |
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I find that set up hard to time but really like playing it as well esp when it has bad news. But it is a bit of a hit and miss as the timing has to be perfect. Usually, if it bounces off the ema's, I will get out flat and wait for a double top to form. But if it makes a higher high, then I forget about it.