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sk6345
SPY was in a range with the 20 sma above and the 50 sma below. I went on the breakdown at the 50 sma. The general intraday market began a down trend.
Stock price on the daily had pulled back to the 50 sma the day before, and failed to hold this support the open today. Intraday, it ran down at the open and pulled back to the 9 ema & vwap for relief. Entered the intraday bear flag once I saw a red candle was holding with a stop above vwap and 9 ema that were both curling down closely on top of price. Bought back half into the spike. exited completely on what I thought was a pullback that followed.
Execution detail:
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