Daily: One day extended so it could run up in the intraday chart.
Intraday: Saw a flag develop so I entered within the flag thinking that the stock still had momentum ability. However, I normally wait until a break for confirmation. This play was toward the end of the day so I should've been more careful with my entry since traders have a tendency to take their profits towards the end up of day. I didn't have a close mental stop and the stock dumped pretty fast. I definitely could've waited for confirmation and entered for a short. The lessoned learned is to wait for confirmation since I'm still new to trading, have a mental reminder that traders have a tendency to sell at highs, especially at the end of day, and create a tighter mental stop.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-08-14 15:05:57 | CSIQ | buy | $32.830 | long |
2014-08-14 15:09:31 | CSIQ | sell | $32.640 | 0 |
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