IBM Trade on Oct 17, 2018 09:45 from boldandnuts: Tradervue User Stock Trades.

$IBM also reported Earnings and gapped down below a long term Macro Trendline falling in at around 137. Short bias below and long above.

IBM respected that level in premarket already and sold off of it just before the open. hence I sat tight and just watched it to have it in mind for a retest short.

When IBM retraced and consolidated just above VWAP I gave it a shot with a starter just above 135 which was a bit early. IBM still was a bit strong and I did not really have a feeling for how it trades.

I missed the spike into 137. IBM retested above 136.50s but was rejected. That gave me confidence and I added another quarter to 50 shares.

Moments later I saw the next reject and a decision-candle forming on the one minute. I was patient and IBM made another attempt higher but the offers held and stepped down. I sold as IBM 136.15 for another 50 shares.

Unfortunately I did not have the patience as I was on the move. Eventually took off the trade break even. I would have played it out with confidence to the short side with more time on hand. As I had reached my goal that was fine. Happy to see the trade eventually worked out nicely.