Stopped at 14.89. -- The absolute low of the day.
The next day +1.91 it would go as high as 17.50 within another 2.
Exit: $14.89 - $1.15 .9R
There are a few ways I can choose to feel about this trade. At one time I may have felt regret or chose to put a wider stop in taken more risk etc... I could take pride in that I was right about the reversal. But pride is not a consolation prize when money is lost.
Here is what I now assess this trade. I used the wrong setup. I was thinking that this would behave like the big % movers that the fishhook set up works so well on. So I got my fishhook entry signal and took it (causing me to buy high) I didn't put a ton of size so I could enjoy a wide stop.
What I see now is that a big% move out of a down trend is not appropriate for a Fishhook. Rather it is a trend termination signal. This means I should have waited for the consolidation (i.e. RWLK) and bought the range expansion. Had I done so this would have worked beautiful. As it turns out, it's a lesson learned.