My next play was a 5 minute sell in GILD which I found this morning while I was doing my 9:45 wide range bar scan. The setup was very text book like at 10:30 reversal time, at the declining 20 ma, at minor support, railroad tracks made up by the 20 ma and the 40 ma, 3-1 risk to reward, and 60 % retracement of the prior move, a total of 70 points on the ole Pristine scoring chart. Once in the trade price behaved beautifully moving lower into major support and bouncing ending the move lower for now…
GILD 1