Wednesday, May 8, 2013

Z - 2 pattern on short sell

Z - same 2 patterns that I showed on the prior stock - STWD.

But this one is on the short side
Pattern 1 - the power of 1st 5 min bar, This was a perfect play since it went down on the 1st 5 min bar and that was the support on daily. Perfect short sell.. on the 1st play

Pattern 2 - pullback play - here you short sell below the prior 5 min bar as shown and stop is shown on the 5 min chart. You protect the prior low of the day.