Shared by
acelaw2000_BOWS
$SAVE…..SHORT…..SHORTED ON INTRADAY AFTER STOCK WAS UP BIG….REACHED FIRST TARGET OF LOD BUT DID NOT SCALP POSITION WAS TOO SMALL….SET STOP AT BREAK EVEN. STOPPED OUT. SHOULD HAVE JUST TOOK THE PROFITS AT LOD SINCE POSITION SIZE WAS TOO SMALL……. -11
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-03-25 14:46:15 | SAVE | sell | $61.690 | short |
| 2014-03-25 15:16:07 | SAVE | buy | $61.690 | 0 |
Comments
iStryker_BOWS
I talk to you about this trade in the chatroom. Your entry was a little low. I would've hit it @ 61.81ish, 5-10 minutes earlier.
Stock did a pop, a 4 candle flag then, fade of the 9ema and a tap of the 20ema. This to me was healthy, however you got stopped out. (FYI usually I like it to flag for only 2 candles, it did have me a little work). Don't feel bad about covering flat, live and learn..
Also what was your stop and target? My first target would've been 61.50, so your entry of .69 didn't give you a reason to cover half, whereas if you hit it @ .81, that would be a 30-31 point gain.
As Kunal said, the support @ 61.50 is huge, you should've seen it.
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61.5 is big support... it needs to be coiled up if its gonna break that..it was dragging down for a dollar slowly into that area so it tends to bounce...