I went long at 39.57 on what looked like a flag after a spike up to 39.70. The 9 EMA was close behind so my risk was limited but I made a mistake on my stop placement, executing it at 39.39. I would have been safer with it around 39.49, just below the bottom wick of the second red candle after the spike up and below the 9 EMA. I only had 100 shares as I wasn't to confident in the set-up. which is a good reason to not have taken the trade at all. My stop was triggered as the stock broke the EMAs and flushed down to 38.90. The SPY took a huge nose dive around this time as well.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-03-06 10:44:18 | ACAD | buy | $39.570 | long |
2015-03-06 11:04:33 | ACAD | sell | $39.390 | 0 |
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