Shared by
jmos_BOWS
Play: Parabolic
Stock was parabolic on the daily and intraday, kept getting stopped out but once it topped at 2.13 and couldn't hold and had an engulfing candle, i got in short. A bit of a chase, I will admit I had FOMO after getting stopped out.It had trouble holding 2.10 and the spike to 2.13 just seemed like a quick spike to grab stop losses (which it did perfectly with mine lol), so I got short thinking this was the top and having conviction in it which I have been working on. I let it put in a lower high which confirmed the top and then scaled out all day in flushes. Happy with the discipline on this trade even though I could have waited for a better entry by waiting for a lower high.
Reasons to sell: flushes, end of day
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-02-27 10:52:48 | CYCC | sell | $2.000 | short |
| 2015-02-27 11:17:33 | CYCC | buy | $1.900 | short |
| 2015-02-27 11:21:18 | CYCC | buy | $1.820 | short |
| 2015-02-27 11:53:30 | CYCC | buy | $1.750 | short |
| 2015-02-27 13:29:52 | CYCC | buy | $1.720 | short |
| 2015-02-27 13:31:20 | CYCC | buy | $1.650 | short |
| 2015-02-27 14:04:42 | CYCC | buy | $1.570 | short |
| 2015-02-27 14:08:29 | CYCC | buy | $1.550 | short |
| 2015-02-27 15:11:21 | CYCC | buy | $1.480 | short |
| 2015-02-27 15:40:59 | CYCC | buy | $1.390 | short |
| 2015-02-27 15:54:42 | CYCC | buy | $1.460 | 0 |
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