Daily: bear flag break down
Intraday: bear flag/VWAP short
I happened to see JCP was making new low so I pulled up the charts of department store stocks and found they were all selling off, not too big but trade-able. I picked KSS and got it on the bear flag break down right after the VWAP test. I added some as it was breaking LOD. My target was $38 but I scaled out when I thought the move was already extended and then got all out as it started pulling back around lunch time.
This is a fine trade. I did everything right but I wish I had played one more ticker in the same sector, maybe M or GPS. I saw them and certainly could get an ok entry but I was so fixated on "It's Friday I don't want to take too much risk".
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-01-27 10:46:34 | KSS | sell | $39.400 | short |
2017-01-27 11:06:34 | KSS | sell | $39.140 | short |
2017-01-27 11:35:45 | KSS | buy | $38.570 | short |
2017-01-27 11:55:14 | KSS | buy | $38.630 | 0 |
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