Setup didn't develop. Should've had a much tighter stop.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-09-23 13:26:00 | VIPS | buy | $59.144 | long |
2013-09-23 13:37:00 | VIPS | sell | $58.741 | 0 |
I see why you took the trade, where you got it. It wasn't a strong place to enter, since the flag started looking weak there and started to curl down a bit and the green volume bars were not very strong. But I do see why you went in. Those afternoon plays are trickier, imo, especially if it's a stock like this that was up so much for a couple of days, outside the BBs, and then had this kind of drop in the morning. However, it did bounce off the low from that green candle a couple of days before, and the 57 mark, so i totally see why it bounced back up. Just didn't have enough momo to continue. This was a hard one.
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I don't see the setup but yes, tighter stop indeud!