I had only a few mintues to watch before day-job and other duties called me away from the computer. I happened to catch FAZ in a consolidation area when I signed in... approximately 10:20 am to 10:35 am. I had a sense that it was going to drop so I took a paper-trade short at $21.14 and held nearly all the way through the next candle. Momentum had stalled so I bailed for small gainer. The stock did reverse and go up, reaching as high as $21.19 a few minutes later. At only 5 cents over my entry, this would have been within my stop zone. Had I trusted my instinct and held without the short-term bailout or not prematurely stopped myself out, I was one candle away the front edge of a nice six consecutive red-candle drop. Potential gain of 61 cents on one trade.
Ok, my trading needs work. But, I like the feel I am getting for movement. And, I like that my familiar indicators of direction reversal continue to show themselves.
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I continue to study and learn. Good trading to all.
