Bought the breakdown of the bullflag. Not sure if this is a valid setup, but it is overbought, it broke down on the bull flag so I bought as a short, it went sideways after that. I didn't have the stones to hold it overnight as it could gap up. I will be watching it tomorrow. Is this a valid idea to short a bull flag breakdown?
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-21 13:59:37 | ARIA | sell | $6.600 | short |
2014-01-21 15:59:31 | ARIA | buy | $6.590 | short |
2014-01-21 15:59:31 | ARIA | buy | $6.591 | 0 |
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Jim, Tag it bowsreview to get the BOWS crew to look at it. My opinion is that it is trending down once it has broken ma and VWAP support on both time frames like that. Only problem was that it popped back up a bit on the 5 minute right after. If this had been early in the day I would have ridden it until it either flushed or stopped out. I agree with getting out of this one before EOD.