Shared by
praveen_BOWS
USO was oversold and formed a double bottom on the daily chart,starting perking up at the open on the 5 min. And this led me to believe SLCA would bounce as well.
When SLCA created an exhaustion gap down on the 5 min ,I tried to go long when it broke the high of the day but then the stock hit the 20 ema and reversed.Should've moved the stop to my buy price but lingering around a little longer cost me some $$.
On hindsight,SLCa had probably more a little more downside to it on the daily.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-11 09:57:45 | SLCA | buy | $15.650 | long |
| 2016-02-11 10:15:05 | SLCA | sell | $15.460 | 0 |
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