Shared by
ToqueX
Grade=F
The setup: Bear flag (not really) and anticipating the crack of 3.00
What happened?: The stock was pretty extended, but I should have known that it would run at least another day and that the early shorts would get squeezed. Regarding my entry, it was too early for such an anticipation considering we had gapped up (showing momo), and pulled back (showing shorts who got in on the first spike after the open would be covering).
Would should I have been looking for for my play to work: Probably some grinding right on top of 3.00 with nervous selling on the time and sales and multiple challenges of the 3.00 level with my risk set to about 3.12 or so.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-05-04 10:28:15 | ICLD | sell | $3.030 | short |
| 2015-05-04 10:42:41 | ICLD | buy | $3.170 | short |
| 2015-05-04 10:42:41 | ICLD | buy | $3.170 | 0 |
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