Intraday flag break. The one major mistake I made on this trade was that I jumped the gun and did not wait for confirmation of the break of the flag. I had a buy order for $4.98 in case it broke $5.00 as I knew it would likely pop above the round number and head back to at least the high of the day. In a quick flash it looked like it was going to break and I hit buy but it never actually broke $5. In the next candle it failed. Need to wait for more confirmation on these. Here's a better pic showing my setup
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2012-09-27 10:00:57 | ROYL | buy | $4.970 | long |
2012-09-27 10:06:53 | ROYL | sell | $4.710 | long |
2012-09-27 10:06:54 | ROYL | sell | $4.700 | long |
2012-09-27 10:06:54 | ROYL | sell | $4.700 | 0 |
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