Symbol: SPF
Type: Short
Entry: The beginning of the 9th bar
Exit: Stopped out during the 14th bar
Result: Lost -0.69%
I caught up with SPF after it tested the 119% Fib. Extension during the 5th bar. It then retraced back towards the 5eMA. Then I saw the weak 8th bar closing close to its low. I entered Short during the 9th bar thinking that the falling 5eMA will push the prices to re-test the 119% Fib Ext., but it didn't. It Stopped Out during the 14th bar, and eventually ended its reaching the 81.9% Fib Ext.
GIGO On Pre-Trade Checks
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In the U.S., pre-trade checks are legally mandated by SEC Rule 15c3-5 (the
Market Access Rule). An Order Management System (OMS) evaluates every
incoming A...
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