Idea is right. But my execution is completely off. Waited for too much confirmation and took position ignoring the fact that it is already down 60 cents from the highs and expected a washout. It still gave me enough downside to take small profit. Instead I waited too long and turned it into a loss. Completely my mistake. Took a valuable lesson. Take what market gives you rather than trying to make a fortune out of a trade.
Anticipated an oegd. Instead it spiked at open. I took my eyes off focussing on $UNRG. When I came back to this, it started dumping. It dumped until SSR was triggered(Ignored that fact). Tried shorting into a decent bounce later in the afternoon expecting a fading off action. Since SSR was on there was no selling pressure which I later realized. So out for a small loss.