I decided to come back to the well again with this. When it broke through all support on the 5 minute I watched for an entry and shorted when it pulled back close to EMA support. This didn't last long, and I stopped out. Had I looked at the 30 minute chart, I would have seen that the 9 EMA was coming right up under the price at this point, and offered support to stop the drop.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-21 13:49:26 | CTIC | sell | $4.000 | short |
2014-01-21 13:53:30 | CTIC | buy | $4.050 | 0 |
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No confirmed setup.