Play: bear flag
Broke trend line with volume, started going my way. Never reached target and just bounced and took my stop loss. The volume was not good as there wasn't any so better to stay out of it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-09-22 13:56:42 | AVNR | sell | $11.080 | short |
2014-09-22 14:15:59 | AVNR | buy | $11.120 | 0 |
Thanks! Original stop was 11.16 (VWAP) and once it went to 11.03, I figured it was toast and would likely break that strong support at 11 but it just bounced so I had already brought my stop down in case this happened as my move would no longer be valid.
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Great risk management. This one just wasn't ready for a big move today, apparently. I think I took the same trade actually, in addition to a long early that didn't work out.