Finally a trade I am happy with. Snapback short, took it as it broke through 9ema and broke a kind of basing looking pullback. When it started reversing convincingly, I bailed.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-08-27 10:23:39 | ITG | sell | $17.260 | short |
2013-08-27 11:18:42 | ITG | buy | $17.180 | 0 |
On the daily it was a snapback short. On the intraday I was looking for a 9ema pullback but it found resistance just a bit below the 9ema. When it went flat a while with narrow candles, I decided I would enter if it rolled down.
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I'll have to re-study this setup as i don't see it but it seems to be working for you.