Shared by
sk6345
Stock gapped up for the third day in a row on the daily. Also, it was on it's fourth green day in a row, had open outside the upper bollinger band for the second day in a row, and the had pierced the upper band 2 times before that. spy gapped down at the open then filled the gap. I thought it would continue the move upward so I entered a long position in this stock. Price reversed soon after and I was stopped out. Based on the elements on the daily chart that I describe above, I should have never taken this trade.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-01-23 09:44:00 | GLBS | buy | $9.960 | long |
| 2017-01-23 09:46:00 | GLBS | sell | $9.500 | 0 |
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