Shared by
bbango_BOWS
Very extended on the daily. Was looking for a green to red move lower on the day.
Failed to produce a g/r move but showed weakness in the morning and came right back to retest yesterday's highs. Produced a failed break out so I was looking for a short setup after that. Shorted the break of the flag, which wasn't a bad entry IMO, but my first target was LOD and it didn't quite get there.
It looked like another bear flag back into price resistance, but it actually popped up above vwap. I was able to cover on the next candle for break even. At this point the spread was pretty wide which I didn't like. I should have noticed the relatively high green volume bar during the bear flag around 12:30 for a potential clue that resistance wasn't going to hold.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-10 12:00:56 | CEMP | sell | $18.160 | short |
| 2014-12-10 12:57:26 | CEMP | buy | $18.150 | short |
| 2014-12-10 12:57:26 | CEMP | buy | $18.150 | 0 |
Comments
bbango_BOWS
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Like that entry. You was close to support at 17.90 so once it broke under $18. You should have cover half position.