Daily break at $4.79. Intraday break at $4.80. The setup looked extremely clean but for some reason it didn't work. I suspect it was a combination of the fact that the market was stuck in a 5 point range for the majority of the day, and that the daily was overbought and somewhat extended from the breakout at $4.50. Overall not a bad trade but it was an $8.00 loss.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-08-29 13:50:36 | OREX | buy | $4.820 | long |
2012-08-29 15:03:57 | OREX | sell | $4.740 | long |
2012-08-29 15:03:57 | OREX | sell | $4.740 | 0 |
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