Shared by
oly_BOWS
TASR was a snapback short I'd been stalking and I was hoping today it would go.
First entry it had gone green and folded. I got a cheaper entry above the previous close (though perhaps that was a warning sign?).
Entry: 11.37 (11.38 actual)
Stop: 11.47
Target: 11.27
I stopped out.
Second entry was also a g2r and I hit it again.
Entry: 11.34
Stop: 11.44
Target: 11.24
It pulled back hard and I decided to dump it for a scratch trade and try again later.
Third entry - it looked like it was breaking a bit of a flag and was firmly staying in red mode so I tried again.
Entry: 11.27 (11.28 actual)
Stop: 11.32
Target: 11.17
The low of day was 11.20, I probably should have passed. I stopped out again.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-08-23 09:31:00 | TASR | sell | $11.380 | short |
| 2013-08-23 09:37:55 | TASR | buy | $11.470 | 0 |
| 2013-08-23 09:53:05 | TASR | sell | $11.340 | short |
| 2013-08-23 10:13:38 | TASR | buy | $11.360 | 0 |
| 2013-08-23 10:43:44 | TASR | sell | $11.280 | short |
| 2013-08-23 10:55:02 | TASR | buy | $11.320 | 0 |
Comments
oly_BOWS
I was anticipating a g2r move but it was just the first candle and hardly qualifies. Then it was too early anyway and I love the top tick cover.
I think new rule for me - it ain't a g2r play if the first candle doesn't close g. Another rule not from this chart but basically g2r should happen within say 30 minutes of the open or skip it.
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I don't see an edge on any intraday setup. Daily looks great for a parabolic short. When it's ready it should give an intraday set saying "i'm ready to be slapped"