Shared by
jmos_BOWS
Play: Bear flag
Gapped up but was starting to show weakness pre-market and opened weak. Let it bounce to VWAP, couldn't get above it and round #, shorted when it looked weak. Sold at LOD for first target. Was patient on second target. Only problem, second target was $1 too early.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-07-29 10:14:29 | WIN | sell | $12.875 | short |
| 2014-07-29 10:19:19 | WIN | buy | $12.730 | short |
| 2014-07-29 10:39:21 | WIN | buy | $12.450 | 0 |
Comments
Markmandy54
jmos_BOWS
Thanks guys! My reason to sell was just that I had picked that as my 2nd target since it 12.5 could act as a bounce spot and especially since it was a gap up so I thought maybe it had some type of strength in it. However, I should have added on the first bear flag but still not at that level yet mentally.
pariscroom1
Nice one JMOS I took the same trade and I wanted to get out at the 12.5 area also because I didn't want it to bounce against me. But I've been working on keeping my trades for a longer move and what helped me do that today was to draw a trendline from the 9:30 high and to exit when in broke above, it didn't break until about 11.80. I found that doing this really takes the pressure off while keeping you in the trade, hope this helps.
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Nice job, JMOS. I actually played this one long this AM (lost, obviously). I think you played it nicely. I don't necessarily think you sold too early either if it hit one of your reasons to exit. Maybe, instead, you could have been watching it for another entry