My 3rd play of the day was at 10:45 as the Q’s were setting up another 5 minute sell in the market. I shorted AMGN, which I found doing my 9:45 scan for wide range bars, on it’s first 5 minute sell. Price action moved lower then AMGN lost it’s 5 minute bar by bar and price action continue higher causing me to cover everything. It’s hard to stay with this since we were nearing a reversal time for the market at 11 am. I immediately walked away from my screen only to come back and find that AMGN took out it’s 5 minute Green bar and continued lower. If I would have seen this price action, I would have re entered the play. O’ well, I’ll get it done next time! Here is the chart for my play in AMGN…
AMGN