Pivot High

TraderHank’s trade in VZ

My next trade was with the market triggering it’s 5 minute sell.  I took VZ on the 5 minute sell trigger short.  I found VZ while doing my 9:45 wide range bar scan which showed a beautiful big red bar.  The entry was near the 8 ma and I would have preferred the 20 ma but since I was in alignment with the market 5 minute sell I entered the play short.  Price action in VZ did not confirm the market sell and I soon exited the play with a tiny loss, basically a scratch trade.  I required that VZ move lower with the market, not sideways as it did putting in another topping tail finally at the declining 20 ma.  VZ did finally move lower and I decided to pass on re-entering the play.  Here is the chart on my play in VZ(Verizon)…


VZ