Shared by
Alexis_BOWS
I thought it was a lower high. Trade went against me. I covered.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-05-06 10:10:00 | VALE | sell | $8.930 | short |
| 2015-05-06 10:28:00 | VALE | buy | $8.960 | 0 |
Comments
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I see you tagged bowsreview on most, so I'll leave the feedback to them on those. On this trade, I didn't really see a setup on the daily. Not really parabolic yet, so in my opinion you should have skipped this stock. That said, you went short and would have had a nice winner had you put your stop in the right place. The question on where to stop out is where the setup you're trading is no longer valid. In this case, it was HOD. Tightest reasonable stop would have been just over the whole number resistance. With a little room to allow a wick.