PYPL: Paypal bottom picking loss
There is a 3 line strike (kind of) which is very bearish.
Previous candle patterns have shown that PYPL is already not doing so well.
But price was hitting a support level.
I thought at the overall NQ and SPY is behaving quite bullish.
And wanted to bottom pick for a quick profit.
I guess the news of pinterest acquisition is really too big to ignore.
One of the few times where I was squeezed out of a position so quickly.
What to do better
Guess I should have paid more attention to this idiosyncratic news a bit more.
Try not to bottom pick against a major bearish trend
Loss: 3.9%
Bought at 258 after opening
Stop Loss hit, cut at 247.91 within the session.
Previous candle patterns have shown that PYPL is already not doing so well.
But price was hitting a support level.
I thought at the overall NQ and SPY is behaving quite bullish.
And wanted to bottom pick for a quick profit.
I guess the news of pinterest acquisition is really too big to ignore.
One of the few times where I was squeezed out of a position so quickly.
What to do better
Guess I should have paid more attention to this idiosyncratic news a bit more.
Try not to bottom pick against a major bearish trend
Loss: 3.9%
Bought at 258 after opening
Stop Loss hit, cut at 247.91 within the session.
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