Short on fbbd after confirmation. Covered partial into spike. Re-shorted as it tapped the MA on no volume and started to come back down -- immediately reversed and spiked up where I covered.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-05 11:19:59 | AOL | sell | $47.430 | short |
2014-02-05 11:23:35 | AOL | buy | $47.320 | short |
2014-02-05 11:27:29 | AOL | sell | $47.530 | short |
2014-02-05 11:33:25 | AOL | buy | $47.720 | 0 |
Hey Billy, you shouldn't feel dumb, ftbd is my tag for "flat top break down". Could've (maybe should've) used fbbd (flat bottom) instead, but I'm well into it with this tag.
Also, volume is the second most important indicator for me; my charts are pretty clean (EMAs only) so that I can concentrate on the volume without too many distractions. You're right though, there was no volume here. It's tricky -- sometimes I pay too much attention to volume and miss moves, so I'm doing some experimentation these days.
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I feel dumb, I don't know what fbbd is? Bro, try giving volume more consideration, without strong relative volume what ever setup you playing will most likely NOT work.