Shared by
derekrucki
This was a classic range breakdown that I played while chillen in economics class. Best part about it was my professor just finished giving a short talk about how he thinks technical analysis doesn't work and how he as an economist is a fundamental guy.. In your face professor I just made $56 on this trade in 10 minutes listening to you talk about how this cant be done HAHA :).. took part of the position off when I had a good stream of selling and wanted to see more downside, but I got out of the position once is broke the 20day MA on the 1 min chart.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2012-11-20 10:45:24 | CLF | sell | $31.850 | short |
| 2012-11-20 10:45:24 | CLF | sell | $31.850 | short |
| 2012-11-20 10:58:34 | CLF | buy | $31.440 | short |
| 2012-11-20 11:08:58 | CLF | buy | $31.540 | 0 |
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Nice catch, I took the same trade in CLF today on that range break. I trailed my last piece a little longer which eventually got stopped on the move over 31.64