The mistake I made with this trade was with going against what my original plan was on the daily. This stock gapped down at the open and pulled back. On the daily I had this trade pegged at a 20/50 sma bounce. However, when price gapped down that day it showed a breakdown past the ma's on the daily. I ignored my original plan and let the intraday gap down dictate my decisions and I sold into a breakdown pullback. Price ran against me, broke past the ma's and began the bullish run that I originally hoped for. It was a reminder to always be aware of what the big picture is telling you.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2016-11-23 09:46:00 | CLCD | sell | $31.400 | short |
2016-11-23 09:49:00 | CLCD | buy | $32.000 | 0 |
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