GTXI had popped a (sloppy) daily flag, I picked it up as it was consolidating on the 5 minute. I thought it was coiling up, as the 9 EMA caught up I entered and set my stop with that support. Luckily this was low risk, as it broke down pretty quickly. In hind sight I should have waited for the consolidation range on the intraday to break for an entry. Also, there really was not a good setup on the daily in the first place. Very small loss at $4.00, but a trade I should not have taken.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-16 10:15:00 | GTXI | buy | $2.120 | long |
2014-01-16 10:15:00 | GTXI | buy | $2.120 | long |
2014-01-16 10:30:37 | GTXI | sell | $2.100 | long |
2014-01-16 10:30:37 | GTXI | sell | $2.100 | 0 |
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