RHT Trade on Mar 27, 2018 10:36 from alext341: Tradervue User Stock Trades.

A poor day of trading today. I’m down $138.65 on the day, two losing trades, one on FB and the other on RHT. I missed the opening range breakdown entry on RHT because I mistyped how many shares I wanted to short, and got rejected for lack of buying power.

I then saw that FB had broken out of its opening range highs, so I looked for a pullback to get in. Unfortunately, it ended up being a false breakout, so I stopped out for $52.68 gross loss.

Next trade was on RHT. I tried to find an opportunity to short this stock on a pullback to the 9ema 5-min, which may have been too premature, especially since it had only been trading on 150k shares of on the 5-minute candle.

The stock ended up short-squeezing early short sellers and pulled back as it rejected the 20ema. I was in the green at this point, but needed to wait for a larger move down to the daily pivot level to justify the risk I took on this trade.

RHT ended up closing above the 20ema, where I stopped out for a gross $66.17 loss

The lessons here are as follows:

Find out from the continuation setup how much volume is needed to justify taking a short on a pullback to the 9. Should the 20 ema be used then? Where’s the limit? Why did FB reject so badly, even with technicals working in its favor? Did I underestimate continued negative market sentiment surrounding FB data breach?