Shared by
amd2709BOWS
rfe: breakdown, r90.25 s90.7, sto 69,
stop 90.60
target 90.20
concerns: no breakdown, no tfta
bad trade. wanted to end positive for the day, and I gambled.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-04 14:59:35 | KORS | sell | $90.450 | short |
| 2014-02-04 15:06:24 | KORS | buy | $90.810 | 0 |
Comments
EL_BOWS
2014-02-10 00:54:11
I think it's pretty tough to short stocks if they're above their MAs. This had just tried $89 half an hour before that and bounced pretty hard (notice that the green volume bars were more than twice as big as the red candles) right through the MAs. At that point, there's no short setup left.
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If you zoom into where you opened your short on the 5min chart - you'll notice it looks like a hammer - I take this as a sign that bulls are temporarily in charge and the stock will be moving higher. Also your 9ema & 20ema's were sitting below this price level - so it's not strong indicator for me that this was ready for a short. Your sell order would have been the better place as that was closer to the area of prior resistance & also where the stochastics were starting to round down. Keep at it!