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BScripter_BOWS
Bought on confirmation of the bear flag break. Didn't flush and I moved my stop a little too tight so I got stopped out.
Execution detail:
Comments
PHILnomenal
This was a bit of a chase. It just dumped right into the VWAP, so you have slight bounce potential, plus your nearest resistance level/entry was 20 cents up.
BScripter_BOWS
I definitely chased this one. I was just getting spooked because none of my trades were working out so I was nervous about it squeezing to the upside from the flag. I need to work on trying to ignore my previous trades and trade each individual chart...obviously easier said than done! hahaha
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Avoid entering long or short following a candle that size; it throws your risk management off. Instead, either wait until and another candle or two develops that gives you a clearly defined risk level. Or, wait and see if it pulls back to that initial breakdown level.
In this case you closed your position at that level. Be sure to watch and see how price reacts when it touches it again before making any decisions.