Daily: break down to new low
Intraday: bear flag right under VWAP
- entered inside the bear flag right under VWAP and $55 level.
- scaled out then got out because of the candle with long wick on big volume
The quick reversal was unexpected. It was probably because of the strong market today.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-04-20 10:37:41 | EVHC | sell | $54.880 | short |
2017-04-20 11:24:39 | EVHC | buy | $53.610 | short |
2017-04-20 11:33:47 | EVHC | buy | $53.120 | short |
2017-04-20 11:35:21 | EVHC | buy | $53.550 | 0 |
I don't remember where I saw it. I do check the new 52w highs and lows from time to time.
I just didn't pay enough attention to see that flag. I might have done something else at the time and not watched the trade closely.
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Hey, This came up on my filter but only when it was too late. I don't think it was down 5% yet when you entered the trade. Do you have a filter for new 52 week lows and highs?
Why did you decide not to add in the 11AM-11:10 consolidation? Was it due to the market being strong?