Shared by
Boston
I broke my rules on this one. I saw this stock was gapping up into previous resistance on the weekly chart and when this opened, it was weak so I had a short bias. I do NOT short stocks. That is not in my trade plan, so any stock that I go short is automatically a no setup.
That being said, I saw that this had a made a bear flag with the MAs curling over it on the 1 min chart and it had a nice formation on the 5 min. I got short when this looked like it was breaking down and was up a little bit. I set my stop at the last high and this turned around and stopped me out. Do I think it was a good short? Yes. Was it in my trade plan? No. So therefore this was a bad setup.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-06-19 10:03:24 | CLVS | sell | $85.330 | short |
| 2017-06-19 10:03:32 | CLVS | sell | $85.000 | short |
| 2017-06-19 10:03:45 | CLVS | buy | $85.340 | short |
| 2017-06-19 10:12:39 | CLVS | buy | $86.267 | 0 |
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