As the stock reached resistance near $52.00 level and dropped down, I was looking for a short entry. The stock attempted to spike back up and the pattern I was looking for was a dead cat bounce or bear flag. Bear flag started to form as it was creating a lower high as so I entered early the first time and then added some more shares a few candles later once I saw a red candle. My stop was slightly above $51.80. The stocked dropped down but not by much. Once I saw the stock bounce off of support and reverse direction I covered my position.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-11-14 14:21:12 | YHOO | sell | $51.680 | short |
2014-11-14 14:34:21 | YHOO | sell | $51.750 | short |
2014-11-14 15:26:34 | YHOO | buy | $51.630 | 0 |
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