I took my last play @ 1:45 pm as we were ending lunch. The market was in a power trend down which means all pull backs to the 20 ma are saleable. I sold VZ short after a retest and failure on the 15 minute chart. We also call this a GBI or green bar ignored. I really did not like the play until the retest & failure, also risk to reward was 1 to 1 which is really not acceptable because I require a 3 -1 risk to reward. For some reason I found myself distracted at my trading desk talking with my spouse and the next thing I knew, I’m in the trade after already deciding that I was not going to take it. Well, price action bullied me finally stopping me out, even though the market continued to be week. I hate when this happens!!!!!!!!!! A really lack luster week of trading for myself, I’m down 1/2 R going into Friday. Making this week profitable should be easy, I’ve been 8 weeks of profitable trading, we will see if the streak continues…. Here is my chart for my trade in VZ.
VZ