I picked this up from a gap play. After a period of consolidation I saw a two candle pull back to the 9 EMA and then bought the bounce. It looks like I has the right idea, but this was a very messy flag (if you can call it that) and it clearly needed more time before entry. Also my stop was probably too tight, I was using the VWAP with support of the 9 EMA and 20 SMA above it.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-13 11:02:44 | RNN | buy | $1.600 | long |
2014-01-13 11:30:59 | RNN | sell | $1.570 | 0 |
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