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Tuesday, June 29, 2010

Gap and Go short - AMZN

5 minute chart

Daily Chart breakdown

(Double Click Picture for a Larger View)
.
Stock:AMZN
Entry Bar: 2
Time Frame: 5 minute trade

Entry Green Line: 115.20 SHORT
Stop Red Line
: 116.48
Result: 1.00 to 3.00
Setup Grade
: A-
Notes: Scale as you go, nice break down on daily chart...plus consolidation prior day on the 5 minute chart.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION & SCHWAB.