Followed rules, profit.
Setup on daily: PR Breakdown.
Setup intraday: Bear Flag.
Reasons to enter: price was close under 9EMA.
Concerns: none.
Stop: $9.05 - right above 9EMA.
First target: $8.75 - close to a previous low (hard to see on this chart).
R/R 1:1 - not good!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-10-29 11:14:00 | ARCP | sell | $8.900 | short |
2014-10-29 11:22:00 | ARCP | buy | $8.720 | short |
2014-10-29 11:25:00 | ARCP | buy | $8.600 | short |
2014-10-29 11:36:00 | ARCP | buy | $8.040 | 0 |
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Wow there's nothing I can say except picture-perfect