Considering the strength displayed the previous day and the weak open. I should have been looking for the weak open and R/G setup. There were so many ways that I could have played this but the fact that I consistently try to anticipate what I imagine might happen based on no pattern whatsoever is killing any possibility of having trades work consistently.
Here are some possible set-ups that played out. Of course, this is always easier in hindsight:
1) Double bottom/flag around 9:50AM near $8.80.
2) Flat top breakout around 10:06AM near $9.30.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-05-12 09:36:51 | PTBI | buy | $9.200 | long |
2015-05-12 09:40:07 | PTBI | sell | $9.113 | 0 |
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