This is and overextended chart in the daily, was betting for the first red day, but did not flush back. Is still ripping, took a 16c move, because was waiting for a 50c test. Did not come so got out with a small win. After the stock just ripped to the upside with bullish sentiment, crossing the 14$ b/o...and heading for the 15in.
It would be incredible to be able to read this price action, where the flush does not happen, so... change bias completely and buy the break out at a whole dollar mark, like the 14. This has to be my objective as a trader.
Be able to determine the flow of money pressure. In the mornings if the stock does not do what you where predicting, it will mostly do the opposite. So bet to the other side if possible. In the morning 90% it wont stay still. It will move, you just have to determine, where... but in the moment, by reading the stocks trend and pressure.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-08-12 09:33:07 | REN | sell | $13.860 | short |
2016-08-12 09:37:10 | REN | buy | $13.700 | 0 |
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