Following my plan from before, I was looking for a short trade now. Ideally 9.5 but I did not add size until I confirmed that weakness had come in to add size. 9.7 area seemed to be the top so I covered some and then reshorted above 9.5 for another quick move down and I covered.
At this point, I was thinking of re-buying long using 9.3 over under as my risk, but what I should have recognized was that on the prior move 9.3 was cleared without any hesitation meaning that it was probably not as an important level. At this point, it occurred to me perhaps 9.2 is the real spot to add for long. I was looking for a short squeeze.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-02-04 09:32:41 | GPRO | sell | $9.440 | short |
2016-02-04 09:33:16 | GPRO | sell | $9.540 | short |
2016-02-04 09:33:32 | GPRO | buy | $9.450 | short |
2016-02-04 09:36:07 | GPRO | buy | $9.440 | 0 |
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