Shared by
GaTech_Trader
$AMZN was in a nice down trend today and had pullback to the Intraday 60EMA and a resistance line and failed, so I shorted. I got a small flush, put was holding out for a larger flush. It reversed and I covered just a little in the red.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-05-19 12:23:02 | AMZN | sell | $693.310 | short |
| 2016-05-19 13:20:11 | AMZN | buy | $693.980 | 0 |
Comments
LPeriman_BOWS
This isn't a downtrend on the daily. It's a pullback to support. Not so sure about a 60 EMA, but IF the daily chart would been short biased, I like your intraday entry near top line of intraday chart.
GaTech_Trader
Joseph Hackett, Honestly I was focused on $DUST at the open and missed the opening flush. Thank you for your input on my trade, I really appreciate your feedback. That is great advice with the SPY, I was doing a better job of keeping a closer watch on it and trying to pair trades with its direction a few months ago, but for some reason i have gotten away from it. I'm going to work that back into my trading immediately.
LPeriman, Thank you for your input on my trade, I really appreciate you reviewing it. I see what your saying about the daily chart. Honestly I was a little embarrassed for taking this trade , when I was loading it into tradervue and noticing how there was no real reason to be short bias, based on the daily chart. Thanks
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Chris,
Curious why you did not short at the open and then remount when SPY was at it weakest......I used to make entries just about where you made that one and my success rate was marginal at best, my mentor pointed out the importance was watching SPY constantly like a stock I'm trading as generally most stocks will follow..since doing that my win rate has increased dramatically...SPY was well of its LOD and testing support then off to the races it went....I call it my new "crystal" ball as it gives me an edge into the future....Successful trading to you Joe H.