Short breakdown at $15.15. This was an anticipatory trade that was a little more stressful than it needed to be since as you can see it spiked up after my short. This is why I shouldn't have anticipated the breakdown. Made a note that when anticipating breakdowns, either fully anticipate it (in this case a preliminary add at $15.30 when it began to crack around 11:15am) or wait for full confirmation (short at $15.14 on the real break of the range). Not a terrible trade but could have been better. Banked $38.00 on 400 shares.
One other note on this is that I should have kept it on watch the next day. The low of $14.94 was a tough support area all day long and the next morning at 10:05am it finally cracked and fell to $14.50 in five minutes. See attached chart:
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-08-22 11:23:13 | EXPR | sell | $15.190 | short |
2012-08-22 14:00:49 | EXPR | buy | $15.000 | 0 |
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