With overnight data, this was a 9ema pullback. I am going to stop taking those as I am forcing trades on the open this way. I also chased 5c on the entry.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-08-27 09:40:34 | CPRX | buy | $2.230 | long |
2013-08-27 09:43:28 | CPRX | sell | $2.080 | 0 |
I think this will make it clearer what I am talking about on these 9emas. I am not trading this way now but this is where most of my bad ideas came from
https://www.dropbox.com/s/ddtszrfwyvrxssy/CPRX-with-overnight.JPG
So on the open it looked to me lik it was pulling back to the 9ema/VWAP and I wanted to get long early.
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wouldn't this be considered a Opening range breakdown?