Shared by
Gavin_Stosiek
Reason For Entry
Thought this was going to flag and consolidate just above the $2 level, was a little preemptive on my entry but still had my stop just below two, after it lost volume I just sold out at $2.05 for a small loss as once a momentum play loses the volume the setup starts to fail.
Lesson Learned
This is more of a positive lesson, I took my loss early as I could see it wasn't going to make the move I saw I recognized that the setup was most likely going to based on price action and volume so I got out for just a small loss.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-01-26 09:52:13 | MSDI | buy | $2.130 | long |
| 2017-01-26 10:28:28 | MSDI | sell | $2.058 | 0 |
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