Callout from Kunal. This looked like a rubberband snapback on the daily chart: two big candles and the very last one rejected the higher price and retraced 1/3 of the way back towards the opening price. I could be mistaken but it looks like it also went green-to-red: it washed out yesterday afternoon and then went green-to-red today.
(1st entry)
I entered too early on this bear flag. I exited when I realized my position size was too big and that the dips were getting bought.
(2nd entry)
I re-shorted at my the same price as my first entry when it was apparent that there was a good amount of selling volume. This time, I had a better stop just above the base of that bear flag, so I took a bigger position. I sold 1/4 too early I think (again, I'm still trying to break the habit of scalping at a 12-15 cent profit). I sold in 1/4 this time, just that's just how I roll sometimes.
Execution detail:
I'm confused.
Mark: 1st entry looked like it would reverse so I exited. 2nd entry-- I actually remember a trade review comment you left me one time: "If you see it setup again, short it!" =D
Ah, I'm retarded. Didn't get the 1st setup but 2nd nice.
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!
!