One of the premarket gappers, I waited for the intraday setup to enter the trade which was 9EMA pullback. Sold part of it into a small spike and let the rest ride. Should have exited trade completely on the bear flag being broken but my internet connection went down before doing so (I am on vacation so have to rely on unreliable public WiFi connection).
The biggest problem here was for me thinking that I should be long instead of focusing on being short since the gap up did not hold.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-08-09 10:10:32 | UBNT | buy | $27.060 | long |
2013-08-09 10:10:32 | UBNT | buy | $27.070 | long |
2013-08-09 10:26:36 | UBNT | sell | $27.397 | long |
2013-08-09 11:01:17 | UBNT | sell | $26.190 | long |
2013-08-09 11:01:17 | UBNT | sell | $26.180 | 0 |
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this setup works majority of the time just not this time! worth a shot small risk