Shared by
ToqueX
Grade=F
Loss: 4R
The supposed setup?: Pullback (ha ha). It looks random from this angle.
Why would that even occur to me?: I'm not sure. I guess I was a little trigger happy at the open, and I though I could play this as the bottom of the opening range for a bounce. It was still a bit early for that type of play I think.
Further complications: This thing was going down so fast I ended up with a 4R loss. I set my stop late and superwide and that got stopped out as well.
Setting the tone: Negative for the day. It made it hard for me to see other setups. The market was down in the first hour and there were quite a few shorts to be had.
Anything good from this?: I didn't revenge trade it at all.
Lesson learned: Leave things alone until 9.55 unless there is a setup with tighter risk and a little confirmation.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-04-28 09:48:45 | CEMP | buy | $35.740 | long |
| 2015-04-28 09:48:45 | CEMP | buy | $35.740 | long |
| 2015-04-28 09:49:52 | CEMP | sell | $35.190 | long |
| 2015-04-28 09:49:53 | CEMP | sell | $35.190 | 0 |
Comments
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u got a double top on the daily its way to early to try the pb
typical rules for me on a pullback. I like either a 3 day orderly pullback like $wuba this week
Or a full blown rubberband setup..oversold, super stretched.