This was my mistake of the day. It looked like it was forming a flag and I tried to get in at what seemed to be support from the last 3 candles.
two things I could have done better with this:
A) entered with a smaller position and a looser stop. (even though it looks like it would have hit that one too)
B) waited until it pulled back to a moving average.
But Really, it looks like the spot was when the VWAP 9EMA and 20SMA all came together.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-09-26 10:08:21 | TSL | buy | $13.308 | long |
2013-09-26 10:08:28 | TSL | buy | $13.297 | long |
2013-09-26 10:25:57 | TSL | sell | $13.130 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | long |
2013-09-26 10:25:59 | TSL | sell | $13.150 | 0 |
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Tuff break as never ripped giving confirmation out of that pattern.