Shared by
Emilie_BOWS
Context: Recent momo stock to the down side, had one day rest, today it attempted to break previous day's low which would likely resume the selloff
Intraday: bear flag
I scaled out partial at $110. Then it kept moving down non-stop so I saw no reason to scale out any more and just waited until my target of $100.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2017-09-13 10:26:51 | EFX | sell | $112.730 | short |
| 2017-09-13 10:50:03 | EFX | sell | $112.150 | short |
| 2017-09-13 11:36:26 | EFX | buy | $110.030 | short |
| 2017-09-13 12:46:02 | EFX | sell | $109.280 | short |
| 2017-09-13 15:46:04 | EFX | buy | $100.050 | short |
| 2017-09-13 15:48:03 | EFX | buy | $99.020 | 0 |
Comments
Emilie_BOWS
Yes, it was flagging after testing the 9 EMA.
4th day or not wasn't important. I saw the whole pattern as a bear flag break down setup (you can look at the 30m chart). I didn't know that it would fade so hard. I just played the usual intraday setup. When I was in that trade, I saw price only went down so I kept my position.
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Hey,
What was the setup at your first few entries? It broke the prior day's lows and then rebounded into the 9EMA - was that was you were looking at?
Since this is a fourth day play, what made you so convinced it would fade so hard like it did?