Wells Fargo presented a short opportunity with Friday’s
close. Look at the textbook head and shoulders pattern with lower high on the
right side of the chart.
I love shorts, if they are going to work, they do it quick,
unfortunately since its impossible shorting with a stop, you have to follow by
the minute to enter.
In the first 30 minutes today, together with the general
market uncertainty, I shorted WFC after it broke the HS support at 52.71. The quick move of more than 2% in a couple of
hours made me cover with a quick ≈ 2% profit. Since it takes almost a
year for a return of 2% in a safe investment, the profit was too good to pass. Of
course, as always, I left profits on the table, it’ll happen again and again.
Sorry about not posting real time this trade, it went too
quick.
Shalom,
No comments:
Post a Comment