Shared by
Markmandy54
Shorted the bear flag but wasn't sure if it was a bottom bounce so took small size. As trade developed it became more obvious that there was a bottom bounce forming so took off as stop was hit of -1 while target was +3 and +4 looking for the 200 roll.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-02-07 10:01:09 | LNKD | sell | $204.200 | short |
| 2014-02-07 10:26:04 | LNKD | buy | $204.950 | 0 |
Comments
jmoscate_BOWS
good stop. What is a bottom bounce exactly. The name is obviously self explanatory but does it mean it will go in an uptrend for the rest of the day? What is the characteristics of a bottom bounce?
kunal00
since this daily is messy it will cause ur intrday setups to act different.. if it had brokdwn down on daily below all levels of support then u take this trade
ckz8780
Remember any time you see a big morning flush or big morning spike like this it will use up a lot of the energy that the stock has for that day. It's not gonna set up again in 10 min usually...it will take a couple hours. When I see this type of action I just mark the stock and come back to look at it in the afternoon or in an hour or so.
Markmandy54
Had that look to me but you're right fell to hard too quick. Snap back it was.
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If you believed it was a bottom bounce, why didn't you reverse? This is something I am working on myself....