There were a lot of short setups today. I had trades in AEM, FWLT, SPY, ABX.
SPY was resistance setup and worked like a charm. Gap down, followed by strong up action, meets EMA resistance and continues the trend downward.
5 min. chart of the resistance setup.
ABX was extended on the day and had gapped up. Wait for a nice entry. 8th bar strong and part of consolidation. 9th bar red doji after a consolidation. First sign to be alert. 10th bar almost an inside bar closing very weak. Time to get short. Covered entire position at 20 EMA.
SPY was resistance setup and worked like a charm. Gap down, followed by strong up action, meets EMA resistance and continues the trend downward.
5 min. chart of the resistance setup.
ABX was extended on the day and had gapped up. Wait for a nice entry. 8th bar strong and part of consolidation. 9th bar red doji after a consolidation. First sign to be alert. 10th bar almost an inside bar closing very weak. Time to get short. Covered entire position at 20 EMA.
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