HD short paid the bills for TraderHank

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My play of the day came in HD that I found on my 9:45 am wide range bar scan.  Usually I don't like these bars to have tails but on wide range red bars I've noticed that a topping tail is ok as long as the bar closes solid at the bottom, this is the case with HD. My first entry triggered on the 5 minute chart on a two bar pull back and since it was not a textbook style setup, I went with a single lot size.  At 10:50 am HD finally started to trend lower and broke to new lows.  On the next 5 minute sell that triggered at 11:50 am I went to a full share size and was almost immediately rewarded as HD fell to .76, my first target, where I sold 1/3rd of my shares.  I covered more shares @ .58 and I was looking for a much lower target @ .06 for my final 1/3d shares left.  I decided to cover 1/2 of my last 1/3rd looking to add to my play and reduce my stop.  My add and reduce came soon as I shorted more shares @ .53 and lowering my stop to .69.  My play looked promising with a low target of .06 but as HD retested the lows price started to rally and finally took me out of my last 1/3rd at a break even.  This could have been a huge play but maybe next time.  Here is the chart for my play in Home Depot...

HD 02192014
HD 02192014

     

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