Shared by:
thelonnie_BOWS
Execution detail:
Comments
markmandy54_BOWS
November 05, 2013
I don't see the setup
iStryker_BOWS
November 06, 2013
This was a good short setup, not a long. Look @ the 5min, the stock is bear flagging the 9ema. then once it couldn't break and stay above the 20ema, that was your second indicator.
For short plays, you might see them pop over the 9ema, then come back down. This is exactly what happens here.
Plus it was lunch time. Don't go long on a bear flag at lunch time...usually there not enough buyers to change the momentum
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No setup on the intraday to go long imho.
The stock could not hold its morning highs and started to have lower highs and got pushed down by the 20 EMA just at the time when you went long but it was actually a good spot to go short (triple tap breakdown).