I shorted because I saw a potential double top on daily if you take away that crazy top tail. Yesterday's full body green candle couldnt follow through to the upside. I felt I missed the first short opportunity earlier in the morning. With one catalyst in the books (missed the first short) I shorted the breakdown/retest of the intraday pivot level. Stop was above that pivot line.
I got the flush and was happy with it. Truly I was looking at more downside on the daily but after being late in this move, I did not want any green to reds so I covered. Had I entered earlier in the morning, I would have definitely held overnight since I would have had more room to stay green. Turns out the swing idea would have paid right.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-01-26 12:04:08 | TECK | sell | $25.660 | short |
2017-01-26 12:40:07 | TECK | buy | $25.440 | 0 |
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