Shared by
SatoshiTrader_BOWS
Anticipated a trend break and shorted on a lower high.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2015-12-23 09:57:34 | ROVI | sell | $15.110 | short |
| 2015-12-23 10:20:08 | ROVI | buy | $15.390 | 0 |
Comments
SatoshiTrader_BOWS
2015-12-23 16:43:46
I had this on short watch because I found the news not 50% gap up worthy. Conference call where they say they have a 7 year contract with ATT. But technical it indeed looks like it has some power to go further after the base breakout and the 200MA. Your right, lesson learned -> less fundamental.
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I "anticipate" frequently as well and it usually never ends well. You might nail the reversal here and there but I think it's better to wait for an actual setup vs. shorting based on what you "think" might happen. Anticipating as BOWS teaches it means taking a position within the pattern.
Also, make sure to have a long/short bias based on the daily chart. Personally, this gapped over the 200MA and was basing weeks prior so my bias would have been long. Intraday, there was a strong thrust in the morning and hen it pulled back and consolidated which is a flag setup. Of course, this seems easier said than done in hindsight but always try to identify a clear pattern before going long or short.