Ambush Trade - RINO

RINO was weak compared to the strong market in the market. It sold off right after the open but I could not get a nice entry. It then set up an ambush trade. Entered short when price could not hold 50 EMA on 5 min. It was an easy ride to the 50 EMA on 15 min. which was also 50% FE from the morning high to morning low.


I entered SU on the break of 2nd inside bar high. First bar had a nice upper tail followed by a red inside doji within the first bar. 3rd bar initially took out the low of 2nd bar but then moved up. I entered long when price took out 2nd bar high with the upsloping 5 EMA as support. Price moved slower than the snail. Partialled near 37.50 and exited the remaining a few bars later near the same price.