Shared by
EliBrown
I mentioned in my watchlist I would be watching this one for a continuation with a break below 30.00 support level. I anticipated the breakdown and entered while the EMAs were squeezing downwards at the open. I shorted 250 shares at 30.75 with a stop just above the EMAs and the last candle at 31.00. The stock flushed and I scaled out 100 shares at 30.18, 100 at 29.76, and 50 at 29.04. My original targets were 29.35 and 28.60. I covered a bit to early because I felt the stock was getting extended but in hindsight I should have been covering closer to my targets. I left some money on the table by not following my plan.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-03-16 09:46:38 | LL | sell | $30.750 | short |
| 2015-03-16 09:58:20 | LL | buy | $30.180 | short |
| 2015-03-16 10:04:46 | LL | buy | $29.760 | short |
| 2015-03-16 10:17:26 | LL | buy | $29.040 | 0 |
Comments
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Dude, the trade looks awesome! You had a plan, the entry was perfect and you scaled out on the flushes. Don't be angry at the last couple of cents, just find more trades like this one