Daily: Rubberband short
Intraday: Opening range breakdown
Entry: $20.65
Stop-Loss: $20.85
Loss: $-59 (-1.1%)
Took a short position when stock broke down below opening range and price was below VWAP and MAs. Got stopped out when stock reversed and tested resistance level at $20.90.
Execution detail:
Grrrhh. Didn't see that resistance level at $20.90, even though it's obvious now. Really need to pay more attention to the big picture. Thanks for pointing that out.
Right idea,it just didn't execute
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The idea was great, but it looks like you chased a bit and covered right at a supply zone.