Play: Flag
Had a flag intraday, had clear resistance on the 3days, 5mn chart at 7.30. I chased it as I was late to the party but it looked too good not to take it. When I chase, my trade becomes a quick scalp at first since I have a bad entry so I sold fairly quick and waited for a secondary flag to break out to next resistance but it didn't and was rounding out so sold.
Reasons to sell: spike, buy price
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-11-18 10:34:20 | PLNR | buy | $7.350 | long |
2014-11-18 10:35:03 | PLNR | sell | $7.450 | long |
2014-11-18 10:57:23 | PLNR | sell | $7.380 | 0 |
That entries wait to high and very risky you need to anticipate your entries much better and plan for them
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Nice quick runner.