Shared by
sk6345
rubberband snap back short on the daily. Stock gapped down at the open. 9 ema caught up with price and was curling down on top of it. I entered into an intraday bear flag on a sign of weakness after price had pulled back to the 9 ema, tested it, then continued to breakdown. Price pulled back after my entry and I exited before being stopped out. My mistakes with this trade were entering the rubberband short despite the price gapping DOWN at the open instead of up (exhaustion gap) and not waiting for the 9 ema to cross below the vwap.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-12-21 10:34:00 | MC | sell | $33.850 | short |
| 2016-12-21 11:12:00 | MC | buy | $34.100 | 0 |
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