I had earlier tried a short with this and failed. After the bounce and some consolidation, I turned my attention back to it as the market began to pick up. As this consolidated tightly along the 9 EMA, I longed it (this was a little anticipatory). I was able to run a tight stop due to the way this was respecting the EMA. When it started to roll over at end of day I sold half and raised my stop on the remainder.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-27 13:16:54 | ARWR | buy | $12.015 | long |
2014-01-27 15:36:18 | ARWR | sell | $12.600 | long |
2014-01-27 15:52:58 | ARWR | sell | $12.150 | 0 |
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Good Buy, you didn't buy the break, but it was moving sideways and with eth sma riding tight underneath your risk was good. Good Work!