SHORT. BREAK OF TL AFTER UT. PA briefly Cons at the open then moved up, it then PB below the TL and bounced back up to new daily high, It then formed a 1-2-3-2 Break Pattern and broke lower. (An entry could have been triggered here also under the Break of TL after UT strategy) Note: I was out of the office for most of the morning. Came back into the office at 1:00pm. PA had trended back up to the day high. I entered on a break of TL after the UT. (Waited for a 2nd follow through CS to confirm break) PA briefly dropped then bounced and continued UT. I exited after the formation of a Doji with bullish confirmation. Took a small loss. (Note: Was working on a document for a client during the trade) GOOD: Entry, all confirming indicators plus strategy were signaling entry. Exit it after a doji and bullish confirmation. BAD: The trade didn't have all my attention. 50MA was close to PA as support, but I didn't give it much weight due to the fact that PA had ignored it for most of the day. NOTE: General observation, I wanted to recover the small loss and started looking for a trade towards the end of the day, this was outside my comfort zone so I hesitated (correctly so)... have to stick to my trading strategies and plan.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-01-14 13:46:31 | OKE | sell | $21.710 | short |
2016-01-14 13:52:00 | OKE | buy | $21.780 | 0 |
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