Short at 51.55, S/L at 51.75 (bear flag)
Price rotated higher towards the 9EMA and closed the gap. Price then rounded on the 5/2min charts. Heavy selling in the 51.70’s as sellers were looking to rotate prices higher before shorting. I waited for the right entry on this one. Instead of jumping in right away and getting stopped out which I usually do, I waited for the flush, pullback, and subsequent drop. This entry method was adopted after reviewing tape of my previous trading sessions.
Was debating canceling s/l to take profits but decided to let the trade play out. (7:05am)
Taget 51.15 for 2R
took 50% at 2R for 25 shares, S/l at 51.50
10 shares at 51.02
10 shares at 50.89
5 shares at 5.85 (Target is 50.55) Must have spiked. I had to step away from the computer.
Game Tape:
Execution detail:
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