Shared by
oly_BOWS
Snapback short that went well. G2R setup, should have traded double size per my stop but was tired. Between that and exiting right, would have made my day :(
Entry: 8.58
Stop: 8.68
Target: 8.38
Covered as it stalled out in a parabolic drop on the 5m. Unfortunately, I fatfingered and sold instead of covering. Then I had to chase a few cents to exit the lot - annoying flub.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-21 11:59:20 | OPK | sell | $8.580 | short |
| 2013-08-21 12:57:21 | OPK | sell | $8.380 | short |
| 2013-08-21 13:00:21 | OPK | buy | $8.410 | 0 |
Comments
oly_BOWS
Yeah I was trying to anticipate the green to red so I would't have to chase it. At this point, it was below the highs the day before and just hitting the close. It also broke it's low of the day from 6 candles before.
8.70 looks great, kind of breaking a base intraday plus the moving averages are folding down. I worried it could bounce at 8.65 but if it did you could probably have gotten out for a scratch trade. That would have been a better play.
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Nice short. To me it looks like 8.70 was the short with a stop above the recent bounce high. It would not have occurred to me to short where you did as i don't see the clear setup. Was it simply the green to red?