price had broke out of 2 levels of resistence on the daily. entered into an orb/ flag after price pulled back and remounted the level of resistance. Forgot to put in a stop and got distracted while looking at other stocks. price had pulled back almost a dollar before I realized and I exited. I reentered the stock once I saw price had continued to pullback, tested the 9 ema and a green candle was holding. I was then stopped out as price continued to pullback. Both trades should not have been taken. The orb I took was a chase and it was not tight. Plus the resistance that it broke was much more significant as it has been set since November. orb's shouldn't be taken if they don't have space to move. The second trade was back because, since price had pulled back below longer term resistance, there was no longer a breakout on the daily to justify what I thought was a quick pullback intraday.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-02-06 09:41:00 | TAL | buy | $83.690 | long |
2017-02-06 09:56:00 | TAL | sell | $82.760 | 0 |
2017-02-06 09:59:00 | TAL | buy | $82.990 | long |
2017-02-06 10:02:00 | TAL | sell | $82.720 | 0 |
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