Level 3 retracement swing Level 5: Continuation Consolidation. Bull flag. Wave E Level 4: Head and shoulders reversal. Right shoulder Level 3:Downtrend. Wave 2-3 Level 2: Consolidation. Took position after price retraced upward in an a-b-c fashion and broke the trendline. Stop: 39.48 Target: 35.00 Risk:reward: 1:2 Short float 8.13% Mistimed the market. Was betting on a continued level 3 downtrend. Market ended up breaking to the upside.
Broker:Scottrade
| Date | Price | |
|---|---|---|
| Entry | 1/29/2016 | 38.41 |
| Exit | 1/29/2016 | 39.50 |
- Total Views80
- Position Size30
- Percentage-2.84%
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