Shared by
jmos_BOWS
Play: Bear flag
Mad at myself for not getting a better entry close to resistance. I saw where the line in the sand was but waited for the flush which caused me to chase a bit. Had to readjust stop to improper area if it didn't go my way.
I'm ok with the loss as I traded it as per my rules but I am mad at myself for not re-entering this one on several occasions (break of 18, bear flag right under 18, etc..) I was eyeing all of these and did not take them because it got me once. Not good discipline. HAVE TO TAKE THE SET UP!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-08-12 11:02:24 | EXAS | sell | $18.205 | short |
| 2014-08-12 11:19:42 | EXAS | buy | $18.330 | 0 |
Comments
jmos_BOWS
I would like to start adding to positions like this but I am not sure when to do, type of play, type of stock, the circumstances, etc...any insight @nape? Thanks!
Nape_BOWS
When you see a stock pullback to support/resistance and base a bit then coil. Another key thing is to watch the price action and the volume to get a feel of what the stock is about to do.
If going long, a series of higher highs and higher lows.
If short, series of lower lows and lower highs.
Use the ema's to guide you, but choose your entry off price action then volume.
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18.40ish was resistance. good add spot where you covered.