Flat top formed on the 1 min chart but on the 5 min chart my entry was too late. When I entered at the peak the stock grinded sideways for a bit and then dropped down for a pullback. My mental stop was actually 31.15 but the stock moved so fast that I couldn't catch it at my stop. So I lost more than I had anticipated once I covered my position.
I should've waited for the pullback.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-12-19 09:41:04 | RUSS | buy | $31.250 | long |
2014-12-19 09:44:01 | RUSS | sell | $31.040 | 0 |
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