Shared by
ToqueX
Grade=C
The setup: short the pop (over-extension)
The result: I got most of the move. Definitely one of my better trades. I need more of these.
The lesson: I waited for 63.00 to be tested and cleared, then a spiky top was put in and a red candle started to form. The stock was very overextended. I could have had my main target set at 62.50 and only taken a small amount off at 62.90 if I wanted to lock in a bit (I actually took off half). I obviously had a good entry, but my confidence was not high enough to really milk it with my position and the last chunks were very small.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-06-09 09:48:38 | QIHU | sell | $63.000 | short |
| 2015-06-09 09:48:38 | QIHU | sell | $63.000 | short |
| 2015-06-09 09:49:47 | QIHU | buy | $62.900 | short |
| 2015-06-09 09:53:17 | QIHU | buy | $62.490 | short |
| 2015-06-09 09:56:46 | QIHU | buy | $62.000 | short |
| 2015-06-09 09:59:39 | QIHU | buy | $62.000 | 0 |
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