1.1R profit. 3rd out of 3 trades in YUM today.
Entry: I shorted the little bear flag/pullback to 9EMA with a $0.35 stop. I was later thinking I could've taken a bigger position and a tighter $0.20 stop, because there was no need to put the stop so far away. Stop was $67.34.
2R target was $67.29 near LOD.
If I had taken a position with a $0.20 stop, my 2R would've been $67.60 and I would've made 2R on this trade or more. LOD would've been more than my 3R target.
Exit: I covered some into the support level around $67.30-$67.41. I covered some a little too soon. I was thinking the price might reach or break the LOD, but when it didn't, I covered the last part of my position.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-10-07 13:32:47 | YUM | sell | $67.990 | short |
2015-10-07 13:46:02 | YUM | buy | $67.540 | short |
2015-10-07 13:53:26 | YUM | buy | $67.400 | short |
2015-10-07 14:02:49 | YUM | buy | $67.840 | 0 |
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