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Shared by
boldandnuts

 

ADBE

Oct 16, 2018 09:54


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Resistance Play Good Exit Flag Decision Candle

Eventually I took a trade in $ADBE when it found some resistance just above 256. $ADBE formed a nice Flag with lower highs but couldn’t hold above 256. With that in mind I was patient and when I saw that Decision-Candle form I shorted the low.

$ADBE dropped nicely. I was greedy and did not take profit at VWAP. Of course it bounced and I had 258 in mind to add to my short.

$ADBE tested 257.50, rejected it and did not even make a nice lower high for a Backside Trade that would have allowed me to add another piece.

However, ADBE sold off and I was really patient with my profits. Just the last piece I took off a little too early. Never thought I would see 252.


Execution detail:

Date/time Symbol Side Price Position
2018-10-16 09:54:00 ADBE sell $255.400 short
2018-10-16 10:11:00 ADBE buy $254.160 short
2018-10-16 10:15:00 ADBE buy $253.210 0


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