Pullback to 20 EMA and price support, didn't hold. I think the problem was the 9 EMA was right above so it was kind of sandwiched.
Used a mental stop instead of a physical one and it just got away from me.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-02-20 13:07:02 | UNTD | buy | $14.930 | long |
2014-02-20 13:07:03 | UNTD | buy | $14.930 | long |
2014-02-20 13:18:21 | UNTD | sell | $14.640 | long |
2014-02-20 13:18:24 | UNTD | sell | $14.650 | long |
2014-02-20 13:18:24 | UNTD | sell | $14.650 | 0 |
if the 9EMA was right above thats means it must have jsut crossed it on the way down.. that the sign to short.
U hit like the 4th pullback. Not much probability.
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Pullback already happened at the 13.50 level when it flagged. I've learned the first PB is usually valid and each subsequent PB probability of a bounce is reduced IMO