Shared by
daljitsingh_BOWS
Entry on anticipation of a flag break out, it did not go. Looking at the trade in hindsight now, the flag was a sloppy flag. The bias was long with the gap up, I was looking for continuation from the previous day.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-04-08 10:17:34 | LEI | buy | $6.470 | long |
| 2016-04-08 10:20:20 | LEI | sell | $6.230 | 0 |
Comments
daljitsingh_BOWS
2016-04-12 23:23:56
Agreed that failed tap was also a two tapper as well, not likely to break out.
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I think this was a good try with low risk. I didn't like the intraday volume pattern before your entry though. That and when it failed this level http://screencast.com/t/ZgTMfHYtauw I think you have to release the long bias. Not saying I'd short it, just not long it.