Shared by:
sk6345
SPY has been broke the 50 sma on the previous day then pulled back towards the end. Today, stock held below the 20 & 50 sma. Intraday market opened and remained in a range for a bit.
Stock price had overbought stocastics and looked to have a rubberband short on the daily. Stock opened up green then reversed. I shorted on the crack of the 9 ema with a stop above the vwap. Price remounted and I was stopped out.
I shorted again once price had cracked all the ma's with a stop above them all. Price remounted again and I was stopped out.
The intraday market was in a range and because of this I should have waited for a trend to form before entering a stock.
Execution detail:
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