Shared by
Spartan_Trader
+$45.50
Bear flag. Covered 1/2 into flush. Lowered stop to B/E. Was stopped out. Since it made such a big % move in the morning, I should have scaled out another piece into the second flush (hammer candle) as it was already to extended, just as a precaution and have more gains secured.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-04-04 12:55:12 | SCTY | sell | $59.050 | short |
| 2014-04-04 12:55:12 | SCTY | sell | $59.050 | short |
| 2014-04-04 12:55:41 | SCTY | sell | $59.020 | short |
| 2014-04-04 12:55:41 | SCTY | sell | $59.020 | short |
| 2014-04-04 13:02:55 | SCTY | buy | $58.680 | short |
| 2014-04-04 13:02:55 | SCTY | buy | $58.680 | short |
| 2014-04-04 13:13:18 | SCTY | buy | $59.100 | short |
| 2014-04-04 13:13:20 | SCTY | buy | $59.060 | 0 |
Comments
Spartan_Trader
I hesitated earlier in the day when thinking of shorting because the ideal entries had already went by. But than I shorted it here, go figure, right?
I should have taken it earlier. No Balls, No Babies! LoL
also, I failed at checking the daily chart more closely, as you mentioned it was at support.
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If you look at it a bit more closely you can see that it was pretty much already oversold by the time you entered and made its bottom on the daily support level so there was not a good R/R on this trade buy you managed it well and squeezed as much as you could. There were much better entries earlier in the day on all these flag breakdowns.