Head fake over lunch leads to two great plays for TraderHank

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As the market broke out over lunch time and then rolled over hard I was able to find a great short setup in JPM.  Price action in JPM took off like a rocket into lunch time breaking yesterday's high but then price put in a topping tail bar on the 15 minute chart. JPM then triggered a 15 minute sell off an area of major resistance just below its PDC.  I shorted JPM @ .84 full share size as the market started to sell off and head lower. JPM retested the highs again but did not come close to my stop and finally headed lower where I took targets covering 1/3rd @ .69 and the rest @ .74 & .76.  30 minutes later JPM was triggering a 2nd PSS at its PDC that I entered short, again with full share size. This time the drop was less painful and I was able to hit my first target @ .71 and a 2nd target @ .61 where I covered 2/3rds of my shares.  I trailed out of the play @ .68 as the overall market had reach its area of major support.  A great trade on this very tricky day of trading...

JPM 05202014
JPM 05202014
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