I was probably think bull flag
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-10-14 14:25:07 | BLUE | buy | $58.050 | long |
2016-10-14 14:25:41 | BLUE | sell | $57.800 | 0 |
2016-10-14 14:30:24 | BLUE | buy | $58.100 | long |
2016-10-14 14:31:28 | BLUE | sell | $57.930 | 0 |
2016-10-14 14:35:39 | BLUE | buy | $58.000 | long |
2016-10-14 14:42:40 | BLUE | sell | $57.710 | 0 |
Downtrend on the daily chart and intraday aswell. It's very hard to go against the trend.
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I have done this kind of trading before, this kind of trading has led to me blowing my accounts. Scalping is a killer, no bull flag here. Ticker ran up to 58.20 which is resistance on relative low buy volume. Not a good signal for a buy. Maybe an anticipation buy around 57.50's around 2:10 would have been a better buy to see if it can break the 58.20 area. I see your idea but not worth it.