Shared by
Spartan_Trader
Pre-market Gap-down/Bear flag
Stock was consolidating right above 42 after fade from previous bear flag. It was testing 42 in the last few 5 minute candles so I decided to take position a bit larger than usual. It flushed as soon as I entered. Due to the range of the move, I scaled out in 1/3 to lock in profits while lowering the stop to B/E to protect gains. My only regret was not taking larger size as it was an ideal trade, text book bear flag.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-04-30 10:57:40 | VPRT | sell | $42.000 | short |
| 2014-04-30 10:58:02 | VPRT | sell | $42.010 | short |
| 2014-04-30 10:58:03 | VPRT | sell | $42.005 | short |
| 2014-04-30 11:01:17 | VPRT | buy | $41.640 | short |
| 2014-04-30 11:09:14 | VPRT | buy | $41.200 | short |
| 2014-04-30 11:40:34 | VPRT | buy | $40.150 | 0 |
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