Whats the Setup: Flagging off 20 ema on 5 min (Wasn't a good one)
Where are EMA's: Under 9 ema and over 20 ema
Resistance: 51.91
Support: 51.60
EMA's-Direction & details: Flat and turning down
Time Frame Alignment: None
Volume: Above average
Market action: Rising
Stop: 51.60
Target: 52
R/R: 3:1
Reasons for exits: Trade never should have been taken and I saw it early so stopped out on weakness
Notes: I look at this now and see that I never should have taken the trade. It had broken the up trend line from the morning. It was battling to stay above the 20 ema. It was also lunch time. There was a much better entry about an hour later.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-02-25 12:42:05 | SM | buy | $51.780 | long |
2015-02-25 12:50:22 | SM | sell | $51.690 | 0 |
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