Shared by
firesky_BOWS
SHORT SWING POSITION: Bear flag on the daily. Well-defined top on the flag, but all other indicators are neutral so low-balling capital in this trade. I've placed my stop at $10.77, with targets at $10.59, $10.41, $10.30 and $10.06. Corresponding R/Rs are 1.0, 3.0, 4.2 and 6.9 respectively.
3/9/2015: Hit first target right away. Growing red volume today over Friday, not sure if that's an end of week thing or what, but it's encouraging. Moving stop to just above today's open at $10.60 with reload at $10.68 if it comes to that.
3/10/2015: Opened below second target and hit third target a short time later. Took profits at both. Moved stop to $10.55, just above yesterday's high.
3/15/2015: Hit stop, all out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-09 13:15:00 | IL | sell | $10.680 | short |
| 2015-03-09 13:20:00 | IL | buy | $10.590 | short |
| 2015-03-10 09:00:00 | IL | buy | $10.400 | short |
| 2015-03-10 09:43:00 | IL | buy | $10.300 | short |
| 2015-03-12 09:39:00 | IL | buy | $10.550 | 0 |
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