One and done on this FOMC day

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  FOMC days seem to be showing up on my door step way too fast lately.  These Fed announcements can really screw up the trading day and sometimes the following day as well, similar to a bad hangover.  On FOMC days in the past I’ve simply blown up my trading account taking huge loses.  Now, I know better, I get green in the morning and stay green the rest of the day.  Today I played it perfectly with my trade in EBAY which I found on my Gap down list as a possible Tier III mortgage style gap.  I had not planned on entering the play so quickly but after EBAY showed a secondary sign of weakness I just had to enter the play short.  Price action sold off for the first 1 minute but the second minute Price left a Green bottoming tail bar and it looked for awhile that price was heading upward until the 3rd minute, when price action engulfed the bottoming tail bar and this was my clue to get short asap.  As I was attempting to look for targets, price just dropped out of EBAY at 9:35 am reversal time by about .50 cents and I immediately hit Alt 7 covering 1/2 of my shares.  A few seconds later I hit Alt 7 again covering 1/2 of the shares I had left.  With my huge profit gain I thought I would attempt to hold on and see if I could add and reduce my stop, but I found myself tailing out of the last remaining shares @.34 cents.  Nice and quick!  Now I can set back, relax, and watch the fireworks in the market @ 14:00 when the FED announcement is released 🙂    

ebay 04302014
ebay 04302014

    

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