Shared by
tomr_BOWS
Daily: Rubberband short
Intraday: Trigger when going from green to red
Entry: $6.45
Stop: $6.55
1st Target: $6.30 (previous low)
Loss: $-80
Watched for stock to open outside of upper BB and waited for going from green to red on the day. Missed taking profit on the next candle as stock was moving fast and I got stopped out immediately after that. In retrospect, I probably made a mistake entering the trade on green/red trigger only without having a clean intraday setup.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2013-10-28 10:20:36 | QTWW | sell | $6.450 | short |
| 2013-10-28 10:20:37 | QTWW | sell | $6.450 | short |
| 2013-10-28 10:20:37 | QTWW | sell | $6.450 | short |
| 2013-10-28 10:28:03 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:03 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:03 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:03 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:04 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:04 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:04 | QTWW | buy | $6.550 | short |
| 2013-10-28 10:28:04 | QTWW | buy | $6.550 | 0 |
Comments
NickB_BOWS
Agreed...get in on consolidations and cover/sell on these irrational moves...they are exhaustion candles
If you do decide to chase cut size and know the out then stick it.
markmandy54_BOWS
tomr_BOWS
Yeah, it moved really fast. I waited until it broke the 9EMA and 20EMA. By the time the order filled it had already dropped to 6.45. In hindsight, I should not have taken this trade at all. There was no intraday setup. Lesson learned, I hope...
bbman
also 6.30 was support; could have sold a few ahead to mitigate risk and lock some profit since it was a chase
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kunal talks about not having entry points after such an exhaustive move. i.e. dont enter after several consecutive moves in one direction or big candles in one direction. you had two large candles down here. easy to see after the fact but probably not as its unfolding.