Thought it was going to reverse on me the first 500 so I got out safely.
The second short had more time to set up to my comfort level, the TAZ gap was greater and the price was definitely respecting the 9ema. I covered at the previous days low.
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2014-04-15 10:30:42 | STJ | sell | $62.780 | short |
2014-04-15 10:53:34 | STJ | buy | $62.790 | 0 |
2014-04-15 11:35:15 | STJ | sell | $62.430 | short |
2014-04-15 12:01:12 | STJ | buy | $62.020 | 0 |
The first one didn't really violate the price trendline, although I see it wicked up a bit above the 9ema - so that can scare you out. But what I love about this trade is that you got back in. You didn't get psyched out, you waited, had patience, and hit it when the set up presented itself again. Good trade.
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Nice trade.