dbphoenix
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thebull27 said:this is ford motors company daily chart.
you can see the bullish trend line in the begining of the move.
once that was broken I shorted the first batch.
If the price would have gone above 9.25 with high volume I would have gotten out of the position.
in this case i could have strengthened my position but didnt (dont know why I guess I just dont trust myself enough yet with the trading systems)
point 2 was the point where the support broke with high volume.
in the last trading day (friday) when the price went back to check out the resistance I shorted another batch.
I'd be happy to hear what you guys think
thanks a lot guys for your info and great discussion
Did you short for no other reason than that the trendline was broken? Or were you also incorporating the potential S&R created in April/May '05 and January '06?
Db