In attempt to redeem myself from a horrible morning of trading, I saw a bear flag set up and entered a short position right before the breakdown. I had a 10 cent mental stop loss since I didn't have a winning trade all day. The stock broke the flag and I covered a portion of my shares. It consolidated a little bit and broke down again and I covered an additional portion of shares. Once the stock it hit support at $340.50 it started to reverse direction. I was waiting to see if a dead cat bounce was going to occur but only one red candles surfaced, so I covered the rest of my shares for a decent size profit.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-04 10:54:24 | BIIB | sell | $342.910 | short |
2014-12-04 10:57:37 | BIIB | buy | $342.280 | short |
2014-12-04 11:00:30 | BIIB | buy | $340.860 | short |
2014-12-04 11:05:30 | BIIB | buy | $341.210 | 0 |
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