Daily: ER/PR Gapper
Intraday: Flag breakdown
Entry: $21.68
Stop: $21.90
1st Target: $21.00 (previous support)
Gain: $103 (2.4%)
Missed the run-up in the morning and was waiting for weakness to take a short position. Took trade when stock was flagging and broke support. Scaled out earlier than anticipated as I got nervous when stock tested $21.30 level a few times. Took some more profit when stock hit my target and sold the renainder when it reversed trend.
Execution detail:
Perfect trade. Think you nailed everything, bear flag, scaling out, 2:1 risk ratio.
great short!
Thanks guys!
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Nice short, great scaling.