bear flag breaking down on the daily. Saw bear flag breaking down intraday. Entered at $40.88 for 400 shares. Price pulled back and I exited to cut losses. I made several mistakes with this trade. First, I chased, entering below the break of support. Saw price running down and I wanted to be apart of it. Emotional move. Second, the 9 ema had not yet crossed below the vwap. Lastly, Price had ran down almost $4 in 15 mintues. I should have expected at deeper pullback would come.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-10-31 09:54:00 | CONE | sell | $40.880 | short |
2016-10-31 09:56:00 | CONE | buy | $41.750 | 0 |
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