flat top breakout continuation on the daily. Entered an orb with a stop 15 cents below. TC 2000 was saying that my data was delayed by 15 minutes. So, I closed the program an reopened it to get the real-time data. Because of this, for some reason, I was stopped out of my shares even though price had not fallen to my stop price. I reentered the stock during I believed to be another flag. My thoughts were that price about to breakout past resistance level that have been holding since the day before. I wanted to get in on anticipation. Instead priced back and I was stopped out again. My mistake was how I drew my intraday resistence line. It was not drown at the top of the wicks of the highest candle. Had it been drawn correctly, I would have seen that the breakout that I was anticipating was actually a second tap on resistance, which is no good for a long position.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-02-07 09:48:00 | MS | buy | $44.830 | long |
2017-02-07 09:49:00 | MS | sell | $44.680 | 0 |
2017-02-07 09:56:00 | MS | buy | $44.990 | long |
2017-02-07 10:23:00 | MS | sell | $44.790 | 0 |
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