SPY is in a range, forming a flag pattern underneath price resistance. Intraday price gapped down at the open pulled back the ma's and failed to break above them all.
Stock had flag breakout continuation on the daily chart. Intraday, price had broken out of flag pattern that formed the day before. I got in on it late but thought price would continue upward. price ended up pullback below 9 ema and vwap and I was stopped out.
My mistake was entering too late at the high of the previous day making it's second tap of intraday resistance in the first 15 minutes of the market open.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-05-02 09:35:00 | CVI | buy | $23.090 | long |
2017-05-02 09:40:00 | CVI | sell | $22.900 | 0 |
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