Bear flag breaking down on the daily chart. Sold into a breakdown pullback for 600 shares at $44.37. Price started pulling back even further and I exited at $44.55. I should have waited for a deeper pullback before entering this stock. For one, Price had ran down far too quickly. A deep pullback was basically inevitable. Lastly, I like risk against a previous candle, which, in this case, put my stop about 40 cents away from my entry.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-10-20 09:51:00 | WUBA | sell | $44.370 | short |
2016-10-20 09:54:00 | WUBA | buy | $44.550 | 0 |
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