Grade=D
P/L: -1.6R (position size needs to be more accurately so that max. stopout is -1R
Entry: short the bounce. It was a bad idea to do it right under 34 resistance without some more supporting evidence. I probably didn't want to be late, but an early entry requires more evidence than what i had here.
Result: Stopped out. I can see now that I was relying too much on the VWAP and the 5m EMAs. Using those alone, the setup looks like a possibility, but I also need to consider where the resistance is and ideall the MAs and/or VWAP will line up that which will also attract volume from longer-term traders to give the move some more juice in a direction that is clearer.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-11-04 09:48:27 | RRC | sell | $33.850 | short |
2015-11-04 09:57:23 | RRC | buy | $34.250 | 0 |
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