Shared by
sk6345
There was a breakout pullback setup on the daily chart that broke down below the 20 sma. I looked for a short entry intraday and saw a bear flag forming. I sold 100 shares at $74.60. Price popped back up to $74.73, my stop price, and I was stopped out. What I did differently for this trade was I chose my stop based on the daily chart. The 20 sma was the breakdown point on the daily chart, so I figured the initial breakdown would test this and then continue to breakdown. That's exactly what happened. However, my mistake was setting my stop at the exact price location of the 20 sma on the daily chart, $74.73. I should have made my stop a few cents above in case there was a remount situation.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-09-12 09:41:00 | SINA | sell | $74.600 | short |
| 2016-09-12 09:48:00 | SINA | buy | $74.730 | 0 |
Comments
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
Not sure why your stop was only 13 cents. This stock ran $2 in the first 10 minutes. Your set up is good, you shorted into resistance. If you are going to play an intraday pattern, you have to let the intraday chart tell you where to stop out. Stop needed to be right above here http://prntscr.com/chppxe
Do you see how you are risking vs a candle