CNX gapped up from yesterday's close and sold off. It formed a series of NRIB on 50 EMA. Entered on the 5th bar, on the break of 3rd bar low. I was stopped out in the next bar only to see the stock in my intended direction. My target was 1.38% fib. extension measured from PDH-PDL. CNX provided a nice bear flag entry but I was not watching it.
Had I placed my short order below the ORL, I would still get filled because I usually place my order a penny below. I welcome any comments how I could have improved my entry in CNX or I shouldn't have taken the trade at all.
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