Anatomy of the trade.
- Stock below 5 min 200MA (so I looked to short)
- Waited with a stop limit short order at 58.19/58.18 (.20 3rd strongest price level)
- Trade opened and posted my BTC order at 58.02 (.00 strongest price level)
- Profitable trade
2ND GO AT WFC
Perfect entry - Great targets.
Now a look at NOT following the RULES
Advanced Micro Devices, Inc.(AMD) I had a standing order to short at .19 never hit.
So I started to trade between levels and covered for losses twice.
Had I waited for AMD to come up to the .50 level as taught, and shorted at .48/.49 I would have entered correctly and hit my profit targets below.