Daily P/B to support and 50ma but hesitant as 3rd test. Intraday bounce and holding at all MA's flagging. Stop -.30 (under 20MA), Target +1. Got hit. C setup at best
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-03-14 10:50:35 | SCTY | buy | $74.150 | long |
2014-03-14 11:08:56 | SCTY | sell | $73.780 | 0 |
Just had a nice bounce, and just like JMOS said, volume dried up and I don't like the look of those candles. Perhaps in a more cooperative environment it may have broke flag for a further run. I was guilty of taking setups after moves as well, need to implement some stricter discipline these days.
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I also was looking at it after it bounced and was sitting on the 50sma on the daily but volume was dying and and looked like it was rolling over.