Ideally I was watching 88 to hold as I was looking for a lower high as a confirmation to begin a downtrend. But it went the other way and I added with too much size without the trend confirming yet. I am learning to add more size but if the trend has not confirmed, do not add size prematurely.
I covered partial to take some risk off emotionally since it looked as if it was about to break 89. When it failed, I covered the rest flat since I had no idea which way it was going to trend, as the failure at 89 looked like a failed breakout and a resistance level I can short off of.
I then reshorted using 89 as risk but covered for quick gain when it was clearly stronger to the upside. The higher low and the flag pattern should have been a sign to consider flipping long since short thesis was not confirmed.
Remember to give room to add until the end of the previously established range
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-02-10 09:35:51 | DIS | sell | $87.960 | short |
2016-02-10 09:36:00 | DIS | sell | $87.990 | short |
2016-02-10 09:36:04 | DIS | sell | $88.180 | short |
2016-02-10 09:36:26 | DIS | sell | $88.090 | short |
2016-02-10 09:38:52 | DIS | buy | $88.610 | short |
2016-02-10 09:39:05 | DIS | sell | $88.720 | short |
2016-02-10 09:39:26 | DIS | sell | $88.720 | short |
2016-02-10 09:39:49 | DIS | buy | $88.440 | short |
2016-02-10 09:40:54 | DIS | buy | $89.200 | short |
2016-02-10 09:42:03 | DIS | buy | $88.450 | short |
2016-02-10 09:42:45 | DIS | buy | $88.080 | short |
2016-02-10 09:43:26 | DIS | buy | $88.060 | 0 |
2016-02-10 09:52:27 | DIS | sell | $88.620 | short |
2016-02-10 09:53:49 | DIS | sell | $88.760 | short |
2016-02-10 09:55:29 | DIS | sell | $88.960 | short |
2016-02-10 10:00:53 | DIS | buy | $88.790 | short |
2016-02-10 10:01:09 | DIS | buy | $88.760 | short |
2016-02-10 10:03:42 | DIS | buy | $88.660 | short |
2016-02-10 10:04:21 | DIS | buy | $88.730 | 0 |
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