This was another wrong entry. It crated a Bull flag on the 1-min and executed the trade based on a good volume red bar, also it was dipping below opening price. PAR SAR under, broke VWAP, broke 9 EMA. TRADE JUST DID NOT PAN OUT because of wrong entry.
The correct play: Was to draw the resistance level at 81.50 and notice that it was bouncing back down from here and this would have confirmed the short play I was looking for.
I have to remember that with the Higher price stocks you have to wait till a little later in the day (11am-12pm) for the consolidation.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2018-01-24 09:41:59 | OSTK | sell | $79.750 | short |
2018-01-24 09:52:04 | OSTK | buy | $80.450 | 0 |
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