Shared by
oly_BOWS
gap down on earnings after breaking a 4-tap bottom the day before. I was looking to short.
I took the orb breakdown with a stop at 17.46 - good size/volume candle on the break
I just barely missed my first scaleout, so instead I moved stop to b/e and it survived
When price started to curl up around 11:50 I bailed with a small profit.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-01-29 09:48:41 | CRUS | sell | $17.250 | short |
| 2014-01-29 11:53:44 | CRUS | buy | $17.170 | 0 |
Comments
oly_BOWS
JoJoTrades
I was sitting there watching the flush to sub-17....perfect buy spot, but I wussed out cause I didn't wanna mess up initial gains. when it does that flush and comes back above 17, time to cover!! don't you guys usually cover like 1/2 on flushes anyway or something??
I tried to scale out on the flush and tos didn't fill it. That's been happening to me alot with ToS and I can often watch time and sales print through my order and back. Maybe a legitimite issue with poor routing or maybe an issue with ToS paper.
Thanks for that example though - very nice execution. I got too hung up on the orb clearing the open candle and really wasn't necessary.
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Bit of a chase on entry. This is one I would have passed on if I miss the entry at the open.