breaking down on the daily. played this 3 times, 3rd time lucky.
3rd trade. entered on a flag break. could have entered earlier but wanted confirmation after 2 previous failed attempts. 1st target was 38.3 but it was moving so slow I decided to cover 1/2 at 38.49 then a 1/4 at 38.30. There appeared to be a lot of resistance on the daily around 38 so I decided to cover the rest near 38. wrong move. in future I will let it play out
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-31 12:31:20 | MAT | sell | $38.730 | short |
2014-01-31 12:31:20 | MAT | sell | $38.730 | short |
2014-01-31 12:31:20 | MAT | sell | $38.730 | short |
2014-01-31 12:47:52 | MAT | buy | $38.490 | short |
2014-01-31 12:47:53 | MAT | buy | $38.490 | short |
2014-01-31 13:18:50 | MAT | buy | $38.300 | short |
2014-01-31 13:31:08 | MAT | buy | $38.070 | 0 |
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I would have a kept a few to ride down with 9 EMA.