Nice profit $57.69.
Stop was $0.40 from entry at $23.28.
I covered half of my shares too soon even before my first 2:1 RR target ($22.08, close to previous low) was hit. I was afraid it would bounce at $22, because it's a round number.
I held the rest and it went as low as $20.80 which would've been 5:1 RR. Around $21 was a major support level on the daily chart, but I only noticed it now. I think it was a good trade.
What helped me hold the trade longer than I normally do is a tip that tombro_BOWS gave me over the weekend. When shorting, I hold as long as each 5-minute candles makes an equal or lower high than the previous. For longs it is equal or higher high. This is really helpful.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-01-12 09:57:00 | TKMR | sell | $22.880 | short |
2015-01-12 10:01:00 | TKMR | buy | $22.390 | short |
2015-01-12 10:07:00 | TKMR | buy | $21.520 | short |
2015-01-12 10:26:00 | TKMR | buy | $21.530 | 0 |
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