Daily chart revealed a gap to "all time high" at 82.90 and a fade to a premarket pivot at 82.00. On open 1st candle (on huge volume) surged down and then surged above VWAP and then closed below VWAP. The second and 3rd candles again tested 2 ema's, VWAP and again rejected all three. Definite sign of things to come. I got short with small starter size at 81.5 with a stop above 9ema (40 cent). I added down to 81.07 and took intial profit @80.70. Added back @80.94. Should have stayed with small size but I notice the flag and doulbled my short at 80.68 when it pulled back to 9 ema. I got greedy and didn't follow my plan had to get out under pressure but still had a profitable trade. Had I gotten out as plan my profit would have been twice what I got.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-05-19 09:57:30 | CRM | sell | $81.450 | short |
2016-05-19 09:58:40 | CRM | sell | $81.210 | short |
2016-05-19 10:11:39 | CRM | sell | $81.070 | short |
2016-05-19 10:48:03 | CRM | buy | $80.700 | short |
2016-05-19 10:52:53 | CRM | sell | $80.940 | short |
2016-05-19 11:11:49 | CRM | buy | $80.340 | short |
2016-05-19 11:19:26 | CRM | sell | $80.680 | short |
2016-05-19 11:58:32 | CRM | buy | $80.700 | 0 |
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