Shared by
ToqueX
Grade=C
P/L: +2.5R
Entry: short the bounce
Result: This was right after getting stopped out on an early entry. I concluded that my thesis was still valid and waited set a buy stop for 89 as a target for entry considering this as a round number and it was just above the VWAP and brushing the 9 and 13emas on the 5m chart. This was a calculated risk, but it worked out well here. I scaled out after the first thrust and when the price action got dicey.
Notes: This stock had a deal with QUNR announced yesterday and QUNR was down today. I saw plenty of room for CTRP to drop if it showed a convincing bear flag or pullback w/in the bearish intraday downtrend.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-10-27 09:55:00 | CTRP | sell | $89.000 | short |
| 2015-10-27 09:59:18 | CTRP | buy | $87.500 | short |
| 2015-10-27 10:00:07 | CTRP | buy | $87.000 | short |
| 2015-10-27 10:03:11 | CTRP | buy | $87.800 | 0 |
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