rfe: range breakdown, 3tfta, r 78.74
stop @ 78.77
target @ 77
concerns: early trading volatility
No valid setup. Chase. Got right back on bad timing out of fear that I would miss out on a big home run trade. Which I did.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2013-11-19 09:56:10 | DDD | sell | $78.360 | short |
2013-11-19 10:00:52 | DDD | buy | $79.630 | 0 |
Drew, the 9ema is your friend when you short (5 minute chart). Try to catch it flagging underneath...tapping it....then crashing OR pop over it..unable to hold it...then catching it recrossing it. http://www.screencast.com/t/Um6bO5Vp9kUl
Right idea from daily, wrong timed entry. I've been working on keeping the chart up if i get stopped but daily looks like a bigger move is coming. Once 81 rejected and rolled, start thinking short again.
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Yeah, don't see a setup here. It's hard to be patient and not get caught up in the early frenzy. With 20/20 hindsight you can see the nice flag forming all morning long with a clean entry when the MAs held and it broke through $78 resistance level around 12:30pm.