This was forming an upward trend on the 5 minute chart, I thought with three taps that it was trying to run. This did not happen, and because I bought this too far from support, I lost more than I wanted. Bad risk-reward ratio, I should not have taken this trade.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-16 11:56:12 | TWTR | buy | $62.220 | long |
2014-01-16 12:05:50 | TWTR | sell | $61.850 | 0 |
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You want to see clean tight pattern for a buying opportunity.