Setup: Bear flag breakdown-1st pullback
Where are EMA's: Above
EMA's-Direction & details:Better entry 10min earlier w/bounce off 20
Time Frame Alignment: Stock showing big down moves recently
Volume: ok
Market action-Spy-Sectors-stock: these security stocks rolling over
Stop: Stop 61.61 (high of previous bar)
Target: Target 59.63 Near Low of day
R/R: 62/136
Are Stop/Target proper: Target should've been near the low of the first 5 minute bar. It may not have been hit-but that would have been a better place because of the price rejection exhibited by the 2nd bar and cuz of the whole # @$60. Also the 50 day had held back in OCT, so the possibility existed that it would hold again - I just thought this would go lower (again...thinking = bad, just trade the chart)
Reasons for exits: After entry the stock came down and made a higher low near 60.30
Once the stock started coming down to this area again, and started to firm up up, I closed it.
Execution detail:
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Manage the trade well. Nice work.
Higher lows (bullish sign)..http://screencast.com/t/Bcvs0sNqOjzP