- The stock is active with strong downward momentum and confirming volume
- Short entry at $36.97 on the break of the low of the 6th cstick
- Initial stop at $37.17 which is the high of the 6th cstick
- Covered 500 shares at $37.25 when position was stopped out with some slippage
- Trade closed with a loss of $140 ( -1.4R )
In retrospect, this trade is a not really a perfect short set-up because the daily chart shows a very strong support at $36 which could explain the 2nd HAMMER cstick above.
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