Shared by
derekrucki
Failed 2' reversal. Made a base and consolidated after bouncing back up on this gap down stock. Shorted under this consolidation with a stop above the consolidation. Didn't get a very good fill on this and the stock spiked back above the consolidation to stop me out. This was a good out because the stock went on to rally a point so it was good I stuck to my gameplan. I remember seeing this setup and right when I saw this it was breaking down so I immediately hit the bids to get short which may have been too impatient of me because I hit the stock 4cents under where I wanted to. Other than that followed my plan and just got to learn from the poor entry.
Net: -1.41R
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-01-15 09:40:51 | FRX | sell | $36.928 | short |
| 2013-01-15 09:40:51 | FRX | sell | $36.928 | short |
| 2013-01-15 09:43:06 | FRX | buy | $37.140 | 0 |
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