I entered on what looked like a quick pullback buy. The stock had broke the VWAP and the 9 EMA at this point making this a lower probability pullback. As the 20 EMA held and the stock made a green candle above the VWAP I entered 1000 shares at 1.30 with a stop at 1.25 with my first target at 1.40. As soon as the stock popped up a bit but began to fade, the pullback had been invalidated and I was thinking it was about to flush. I exited my position at 1.29 just below my entry for a small loss. This would have been an excellent short. I never attempted to because I didn't think Think or Swim would have any borrows available.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-03 09:55:57 | ONCY | buy | $1.300 | long |
2015-03-03 10:02:51 | ONCY | sell | $1.290 | 0 |
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Love that you had a setup in mind. Maybe it should have been allowed to pullback a bit more to the MA's before entering (still wouldn't have worked anyway) but I think you did a fantastic job of recognizing it's not going and getting out. Kunal shorted this one today. Be great to know why. Suggest you tag this one with "bowsreview".