This tanked hard and I had the brilliant idea to fade it too. Bad idea for a few reasons
1) nothing about this chart looks like it will support the fade
2) previous candle is against the gap, my fades work better when previous day is in the same direction
3) the drop is huge suggesting this isn't just sell-side market makers playing off opening market orders, something is wrong.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-03 09:38:00 | OKE | buy | $59.900 | long |
2014-02-03 09:38:48 | OKE | sell | $59.760 | 0 |
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