Grade=D
P/L: -0.23R
Setup: short the bounce. Too early.
Result: I was too early for an entry like this. I needed to let it play out a little bit more and then I could have made a better decision. It did test 19, but I should have been aiming to get an entry right around 19 itself and not much lower, and I could have been patient and gotten that entry. It would have been a double top, so I think the short bias would have still been valid.
Lesson: Don't forget about key levels and that there is a high likelihood that they will get tested if the price action is close by and there is volume coming in.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2015-11-11 13:23:07 | HZNP | sell | $18.810 | short |
2015-11-11 13:33:22 | HZNP | buy | $18.880 | 0 |
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