Short PD @ $29. Target $22, stop at $31. 3/1 risk reward.
Trade closed: stop reached
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Stop reached at $31. Expanded flat never played out. Normal flat and off to new highs. Trade what you see, not what you want to see. Could be start of next wave...(i) of 3. Next immediate target is $33, which corresponds to a 50% retrace of the previous downtrend.
Great update and humility. Excellent words of wisdom RE: trading what you see..
abouhemp
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@Gbleezy-1 Thanks! Realized early that the price action was too strong and the trade would more than likely fail. The alternate view started to play out very clearly in real time on a 15 min chart. Price action wasn’t following my indicators which usually means you’re on the wrong side of the trade. Played defense and took a position in the stock as a hedge against the short to minimize the impact. Live and learn, on to the next one!