Shared by
daytradingzebra
The plan on this was to hold it all day long and cover at the close, being it was way overbought and heading into major IPO resistance at 38 from all the bagholders. I entered it a ltitle late and chased the add, so i couldnt play it how i wanted to.
Can look at this two ways:
1) let the second half come back way too far (45 cents)
2) didnt give the second half enough room, due to poor entry in the first place.
Not a bad trade, but could have been a daymaker.
The plus side, at least @Nape can't tell me my stop was too tight =)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-07-31 10:18:54 | FB | sell | $37.850 | short |
| 2013-07-31 10:21:05 | FB | sell | $37.780 | short |
| 2013-07-31 10:38:36 | FB | buy | $37.590 | short |
| 2013-07-31 10:39:43 | FB | buy | $37.580 | short |
| 2013-07-31 10:59:58 | FB | buy | $37.760 | 0 |
Comments
daytradingzebra
Yeah overall both setups or entries would have been kind of shitty, only reason i was playing this was the $38 resistance.
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Haha.. Nice!.. Not a bad trade, but I would have waited until it started consolidating under the ma's creating that bear flag before going in with a short position, right below $37.60.. you can see how the ma's pushing right on top of the candles at $37.60 around (11:30am) causing it to go down.