YELP Trade on Aug 13, 2014 15:23 from youngcb1_BOWS: Tradervue User Stock Trades.

Daily: bear flag/potential breakdown

Intraday: Yelp had a huge run up and did the exact opposite of my daily setup. I wasn't able to play the stock in the morning but I had a feeling that it was going to rest and possibly breakdown. I shorted it after waiting for the second confirmation which was a quick rest then breakdown @ $75.14 area. I missed the first scale out play @ $74.64 so I scaled out during bear flag. The second scale out and my exit was a lot better. After I exited, the stock reversed direction shortly reversed direction, plus I had to get back to my 9 to 5. The lesson learned is to always scale out at the peaks/reverse peaks of a stock.