Shorted JOYG and got stopped out, but I still love this pattern where you can just see buying interest just die.
The Support-turned-Resistance zone was working early in the day, but the more it comes back to test it and the more the buying interest wanes, the higher probability it will break down from support.I entered on a little bear flag setup and got whipped out (stop too tight), had I stuck with it I can see the potential of where I would have gotten back in with much cleaner price behavior within the later bear flags at support
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.