9:45 am wide range bar play in EBAY

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My play of the day came in EBAY which I found on my 9:45 wide range bar list.  Price action closed with a huge topping tail on the 15 minute bar but since ebay was consolidating since early Wednesday morning, I felt that Ebay was still good for a rally on a possible 5 minute buy setup.  Ebay almost triggered the 5 minute buy on three 5 minute bars but finally triggered after 20 minutes of price going sideways.  I did drill down to the 1 minute chart to confirm trend change before entering my long play in Ebay.  Waiting for a confirmed trend change on the 1 minute chart will cost you a little and in this case it was about .05 cents, but the play worked out nicely as I entered the long trade @ .90 cents.  I soon took profits at .95 cents and .00 and finally tailed out of the play after 4 bars up with a topping tail selling at .05 cents and closing the trade @ .02 cents.  A nice 1 risk unit trade on this very tricky morning of trading...

EBAY 08072014
EBAY 08072014

   

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