This i couldn't figure out today, at the first entry i thought it was setting up for a continuation of the downtrend but got stopped out as the price went up.
!And here i got to learn to set tighter stops if i'm trying to trade that kind of volume!
When my second short entry was stopped out i realized that the stock actually was in a uptrend, making higher lows and higher highs...
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-01 10:17:28 | YELP | sell | $38.759 | short |
2015-05-01 10:46:36 | YELP | buy | $38.970 | 0 |
2015-05-01 11:14:21 | YELP | sell | $38.821 | short |
2015-05-01 11:20:00 | YELP | buy | $38.960 | 0 |
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Second day run on this type of gap down stock can be tricky. I would have left it alon when the first flush didn't work. if it was the first gap down day, different story