KMX Trade on Dec 26, 2013 12:08 from johnc_BOWS: Tradervue User Stock Trades.

Very strong selling pressure on the daily chart. BOP and money flow are dropping. I thought that it could really setup for a daytrade if it broke the 50dma again. And it did!

I was waiting for that base to break. It was in distribution and was failing the MA. I could've entered on that candle at 12:00pm but I hesitated. I also like to wait until the candles can't go above the MA altogether.

I've noticed that if the play is:
1) A base breakdown at the HOD
2) The stock has a lot of selling pressure on the daily

Then...

I don't necessarily have to wait until price can no above MAs anymore. I can just short after it breaks MA and breaks the base

I was tempted to add some shares at 47.60 when it failed the 9ema again. However, I played a bit more conservatively. When I get my confidence back up, I'll feel better about adding shares there.

2/8: I like this trade. THIS is how you play MA/Price failure. The stock had bad earnings and tried to recover. Although it opened strong in the morning, it ended up failing its MAs and price support base. That's when I shorted it. Well-done, sir.