Shared by
oly_BOWS
Looking to short this as a snapback play. It opened below the close so I waited for an intraday setup. It pulled back between the emas and I got in as it hit the 9ema on the way down.
Entry: 72.50
Stop: 73.00 (exited at 20ema 72.84)
Target: 71.50 and watch near low of day
Unfortunately it immediately reversed and took me out.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-21 11:04:16 | NTES | sell | $72.500 | short |
| 2013-08-21 11:11:55 | NTES | buy | $72.840 | 0 |
Comments
oly_BOWS
2013-08-22 18:05:59
In hindsight it looks like an intraday flag. No volume on the flagpole but still not the kind of rollover shape you'd want ideally.
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This was a tuff one as this thing has been a MONSTER mover. Nice bounce of 72 and then began to build a flag. Your stops are fantastic as if it didn't play the way you expected you bail quick. I gotta work on that myself.