SHORT. BREAK OF TL AFTER (2nd) UT. PM GAPER (BEAR). This was a break of TL after a second UT on the day (This uptrend was weaker than the first). The first UT was More significant, but I was out of the office. Waited for PA to drop below the TL and the 200MA with a follow through CS for confirmation. Had room to run (nearest intraday support was .80 down.) After the entry CS the next CS showed a lack of bearish follow through, so I covered with a small profit. PA continued up (Bullish to the TL then it bounced back down to a low of $16.71 then it continued up. GOOD: Entry after confirmation. Covered after lack of bearish follow through. BAD: This was the second break of TL on the second UT of the day. (Better to enter on the first break of TL after the First UT). This trade was outside my trading windows (This may explain the lack of bearish follow through after my entry). May have forced the trade in order to make up for the first trade of the day (Loss). Note: After my morning loss I wanted to shake it off and have a winning trade. Bottom line: on days not set aside for trading all my attention is not focused on trades.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-01-15 12:34:00 | WMB | sell | $16.920 | short |
2016-01-15 12:36:19 | WMB | buy | $16.825 | 0 |
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