Saw a bear flag breakdown on the daily chart. Looked for intraday pattern to enter. Saw a breakdown pullback and entered once price tapped resistance and a red candle held. Ended up selling 250 shares at $61.22. Price started to move down but began to pullback. It eventually pulled back past my entry price and I bought all my shares back on emotion. My mistake was not giving price time to do its thing. Though price pulled back, it did not hit my stop, which was 30 cents away from my entry. On a more positive note, price did eventually, breakdown like I had predicted, so I'm happy that I was able to foresee that. Plus this was my first trade of the day, and, although it was a loss, I was able to keep my composure. I did not let it effect me, and ended up making gains on the rest of the trades I made today. Because of this, I am very proud of myself!
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-08-31 09:52:00 | TRIP | sell | $61.220 | short |
2016-08-31 10:09:00 | TRIP | buy | $61.380 | 0 |
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