Daily: Flag b/o (long)
Intraday: Flag b/o (short)
Entry: $8.73
Stop: $8.83
1st Target: $8.63
Gain: $-49 (-.94%)
Had ICAD on my watchlist for a flag b/o on the long side. Stock gapped down and I thought is was forming a bear flag with 9EMA forming the flag trendline. Volume diminished and and I took short position as soon as I saw a red candle (hard to see on chart below) and 9EMA was right above. Stock shifted momentum on next green candle and I got stopped out at my stop loss.
Execution detail:
Looked legit.
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Right side...had set up...let it breath some more