Perfect morning short continuation. I wish I hit the entry closer to $59.80 on that little bear flag but I missed it. I knew it would go though as it had tapped that $59.6 area like 6 or 7 times the previous day. I adjusted size to give myself a 40-50c stop ($120-150 risk) and it worked perfectly as I got an immediate flush. I covered half and then added it back on the bear flag for another significant dump. I covered the last half when it failed to break $58.00. Overall a really nice trade.
300 shares
+$405.00 (2.37%)
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-07 10:14:16 | GMCR | sell | $59.580 | short |
2013-11-07 10:19:41 | GMCR | buy | $58.730 | short |
2013-11-07 10:36:48 | GMCR | sell | $58.760 | short |
2013-11-07 11:13:13 | GMCR | buy | $58.200 | short |
2013-11-07 11:27:11 | GMCR | buy | $58.290 | 0 |
Nope just the five min. There's a post on my blog about this setup called the continuation short. I actually chased this a lot ... There was an opp at both 60.25ish and 59.80 and I waited allllll the way til 59.58! I could have gotten almost another buck out of it!
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nice trade man! quick question though.. when you first entered this trade, were you stalking it on a 5min timeframe or still using 1min charts since it was still pretty early in the day at 10:15... just curious thanks!