RIMM, AMGN

This has been a nice trading week. Setups were easy to find and most of them followed through.


2nd bar of RIMM was weak followed by some sideway consolidation. 6th candle was NR7 but had a lower tail. Entered short on the break of consolidation. 5 EMA acted as a strong resistance. Covered entire position when price closed above the 5 EMA.


First bar of AMGN had a very big upper tail. Price tried to move above PDH but could not hold. 3-5th bars consolidated near the ORL. 5th bar was a weak bar closing below 5EMA. Shorted on the break of the 5th bar and covered by entire position when it formed a doji on S1. Price then formed a bear flag but I did not enter again.