Grade=C
P/L= +1.5R
Entry: bear flag. First there was a gap down, early spike, lower high and a break of VWAP and MAs and a convincing selloff. I entered as it stalled at 42.00 for a few minutes.
Result: I could have waited a couple of minutes longer, but in this case my slightly hasty entry worked out and I got the next move quickly. I scaled out and even added on the next bear flag on the 5m chart. I was eager to get practice doing this. I trailed my stop appropriately. I had to go to bed, so I put on the trailing stop w/ a .20 trail and it triggered a few minutes later. A .30 stop would have netted about .20/share more profit. Next time I set a trail before bed, I should consider having it a bit wider depending on the circumstances of the number of shares I'm still holding and the way the stop is moving.
Execution detail:
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