Bounce back from 42.0 to S/R 42.5 level.. this most probably box trading.
Short entry right after shooting star at 42.54. Mental stop 42.65 (since it is tight range)
Regret that the entry is too early, no setup and don't like it consider this is actually a bull flagging from 42.0
Price hit stop loss level 42.68, cover for 5 cents profit at 45.49 - again regret, this is actually the entry point after followup/confirmation of the shooting star that price will go back down.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-08 14:43:26 | ALKS | sell | $42.540 | short |
2014-04-08 14:54:20 | ALKS | buy | $42.490 | 0 |
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