Play: Flag breakdown/ORB (anticipation to the downside)
Stock ran big, couldn't hold price at highs, had an interesting PR which read well so was long bias until I saw it couldn't break out even with great volume so became short bias when it made lower highs on 1mn and couldn't break above 2.65. Got in when broke that support thinking it would at least test LOD but it stalled at 2.5 which was the real support, getting hit but didn't budge which, like yesterday, tells me there might be a big buyer and it is a long. It was also right on the 20ema which is support so I got out flat when it didn't break support. This time, it worked out well as it broke out to new highs which is why I am safe in these counter trend trades. When on the front of the move, I like to trade them fast.
However, if it would have crack 2.5, I would have held longer obviously.
Reasons to sell: couldn't break support even with volume, buy price
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-02-11 09:45:01 | BLDP | sell | $2.550 | short |
2015-02-11 09:45:53 | BLDP | buy | $2.560 | 0 |
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