Seemed to me like a bear flag was forming, and there was a key level breaking down at thet point. May be it was a little bit a gamble play. Was risking only 25 cents, was looking for 1$ gain.
Now I see, the stock is too extended, and I needed to wait for breakout the $25 level with the volume, or I should wait for that 9EMA bounce and short at that $25,50 level.
Took a loss, no more trades today. Going to look for a one good trade every day!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-09-17 09:46:05 | WWW | sell | $25.000 | short |
2015-09-17 09:50:39 | WWW | buy | $25.260 | 0 |
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Too early. Ideal entry was at EMA fail.