Shared by
Carter_is_the_Man_BOWS
Immediately after I got stopped out, it found support at the 62.10 area (which had provided S/R earlier in the day). I had considered re-entering @ 62.20 W a stop @ 62 but didn't because it could've been a continuation pattern instead of a reversal pattern. It then reversed and hit both of my TPs. However I am happy that I stayed out because it shows that I didn't let my ego/ desire to be right get the best of me, because 9 times out of 10, re-entering would be a bad decision.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-08-05 13:25:59 | MRK | buy | $62.400 | long |
| 2016-08-05 13:34:12 | MRK | sell | $62.222 | 0 |
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