I was watching this from my pre-market gapper scan. It gapped down hard on open, but immediately bounced and began climbing. I was watching on the 3 minute chart, and when the second candle confirmed upward movement I entered. I used the top of the first candle as my stop. I knew it was likely going to be a very quick scalp and that this would probably pull back. When the next candle began to pull back from highs I sold half then moved my stop to my buy point. I was quickly stopped out after that. This did not give me as much as I though it might, but it was quick and low risk.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-01-31 09:35:15 | CYTR | buy | $7.000 | long |
2014-01-31 09:39:58 | CYTR | sell | $7.135 | long |
2014-01-31 09:43:54 | CYTR | sell | $7.000 | 0 |
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