Shared by:
youngcb1_BOWS
Stock was extended so I was anticipating the pullback. Once it started to move sideways and hold I entered the position and got faked out. It attempted to move up but quickly dropped down passed my entry and I exited shortly after.
What made matters worse is that I continued to think that this stock had a chance to run up and I entered with no set up. I was still hoping that it was pulling back, but it needed a lot more time to hit support since it was extended. I exited my long position and created a bigger loss.
Execution detail:
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