The 22.30-22.30 area held yesterday. At the open there was a failure to break out of the 22.50 area. I began to short, and I added a lot of shorts because I thought that the stock would definitely break down. It was about a .09 loss, it was nothing big.
I thought that a strong break below the 22.20 area would definitely lead us to a bigger breakdown. If the 22.00 broke down as well, there was no support until 21.50. I was not upset with the trade at all. I had a good r/r, and that is all I can ask for.
I should have switched my short into a long at 22.50 or a VWAP break to the upside. I have been trying to work on that part of my game. It is difficult to switch a short into a long.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2017-07-14 09:58:00 | NRG | sell | $22.300 | short |
2017-07-14 09:58:00 | NRG | sell | $22.300 | short |
2017-07-14 10:03:00 | NRG | sell | $22.280 | short |
2017-07-14 10:03:00 | NRG | sell | $22.280 | short |
2017-07-14 10:16:00 | NRG | buy | $22.380 | short |
2017-07-14 10:16:00 | NRG | buy | $22.380 | 0 |
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