Why step in front of this train? It broke out over a triple top. Maybe it comes back but I don't see any edge here.
bought back my shorts at 69.36 for a nice profit just wanted to mention for the folks out there that it was actually a low risk trade and not jumping in front of a train or a trade without an edge ...... For others my recommendation :don"t just look at chart patterns for the sake of identifying them always find 2 indicators or conditions that confirm these patterns and on a personel note I was feeling more comfortable with my shorts after reading how bullish or doubtful some of you guys were at that time - thanks
What was your target price or how long did you intend to hold the position when you initially entered it?
I never think when entering a trade how long will it take to either get stopped out or meet my objective - I look at the price . Since I trade about 20 volatile stocks most of my trades last a few hours to a few days. With EBAY my objective was approx. 69.50 --- depending on the vol. at this time I looked at a 5 day HL range and usually cover my position and even reverse at 50% (H 72.04 L 67.01 =69.50) today I reversed between 69.40 and 69.28 with a target of 70.78 because 2 other cond. where met . But I cheated today and took profits already while I am writing this at 70.50 - 54 --- The reason was simply I didn"t like the price action in relationship to a moneyflow indicator I created.