A pretty stupid trade given that 12.00 had been resistance the day prior and SRNE had been in a downtrend on the daily chart. Though not shown, premarket made two big attempts to reach 12.00 but failed each time on huge selling pressure. This should have been a good indication to look to go short. Where my entry was for my long, should have been my entry for a short, as it created a lower higher just above a premarket price level of 11.25. Exit could have been the level at 10.75 which was premarket low.
My stop was very late because I hesitated. I should have stopped out at the break below vwap, ~11.28.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2020-08-19 09:58:00 | SRNE | buy | $11.464 | long |
2020-08-19 10:01:27 | SRNE | buy | $11.355 | long |
2020-08-19 11:18:33 | SRNE | sell | $11.180 | 0 |
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