Is this not a bear flag? the stock turned on me and went the other way.. Is this preventable or inevitable.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-11-25 11:32:48 | P | sell | $18.610 | short |
2014-11-25 11:32:48 | P | sell | $18.610 | short |
2014-11-25 12:15:58 | P | sell | $18.601 | short |
2014-11-25 12:37:17 | P | buy | $18.620 | 0 |
Nape, I have some questions about this...
When Cam entered at 11:32, I could see why he's seeing a flag:
http://screencast.com/t/UXjcAZ3T
Also, tho I think he is a little bit early, price seems to break the trendline formed between 10am and 11:20ish.
Could he consider it a little area of resistance (altho minor) when at 7am it bucked the trend & didn't make a 'lower" high, in that 5 minutes, but couldn't move above 18.60 either (blue line on the attached).
On the negative..it does look like it dropped down onto the top of the 11/7-11/13 consolidation?
Is it better to avoid lunchtime trades like this?
the volume just seemed so light to me also- In comparison to the huge distribution earlier. It's like everybody dumped the stock and then bought right back in... smh on this one.
Tom, Yeah you don have price support at 11/7-11/13.
18.60 was price resistance but you also have price resistance here creating a higher low, so the trend was still intact...http://screencast.com/t/OJgCBc9Mfe
This is what I meant to say: 18.60 was price resistance but you also have price support here creating a higher low, so the trend was still intact to the long side..http://screencast.com/t/xjg4dnXn2SO3
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The trend changed here. Notice the higher lows and higher highs (Bullish)... http://screencast.com/t/Z4GmBNIbog