Shared by
mikowitztrader
Thought I was playing a first-bounce like pattern here, but I don't think I was. For one thing, the run up wasn't really overextended. There was a tiny notch around 1.20 on the way up where I put in two orders on the way down. Sold a quick pop as usual, then set the rest to breakeven, where it got filled.
Lesson: first bounces need a much larger sweep and more significant notching to be A setups. I think I was right in spotting the small tick where I did, but mostly I think I got lucky.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-20 10:05:07 | XELB | buy | $1.220 | long |
| 2020-05-20 10:05:10 | XELB | buy | $1.200 | long |
| 2020-05-20 10:07:14 | XELB | sell | $1.260 | long |
| 2020-05-20 10:11:07 | XELB | sell | $1.200 | 0 |
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