Another grueling day of trading but finally EBAY setup and followed through on its hourly buy. I was really not that much excited about a long play since the market is now up for 5 days in a row, but you will cut your own neck trying to short something in this bullish market. I started stalking Ebay as it seemed to bottom at an area of minor support but I needed another retest and failure off the bottom before I would commit to a long. As price started to go sideways I just had to set and watch the price action until finally it gave me the sign that price was done going down as I watch price action pop and form a wide range bar. I was in at 56.12 with about a two Risk unit void to the top, I thought I’d just settle for 1 risk unit move. It took the rest of the afternoon but price soon found my .40 cent area where I sold all of my shares for a nice 1 R profit. Not a huge trade but I’ll take it on a day that I really did not want to play long.
