Flag breakout on daily chart. Bought into an intraday flag pattern near 9 ema. bought 600 shares at $25.31. Price started running against me and I exited at $25.22. I should not have taken this trade. The flag pattern breakout was there on the daily chart. However, it was breaking out right underneath the 50 sma. Should have known it would not go. I should have at least waited for the breakout to surpass the 50 sma before entering intraday just to be on the safe side.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-10-05 09:47:00 | CREE | buy | $25.310 | long |
2016-10-05 10:07:00 | CREE | sell | $25.220 | 0 |
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