Trade
3:44pm 30 JPM short @ $151.71
3:52 30 JPM cover @ $151.31
+$12
Setup
- Expecting two down legs after what looked like a upward leg consisting of 3 pushes
- Was not sure so put the short order to execute beneath 5 min 20 ema, assuming that if there was to be a 2nd upward leg the downward pullback would end at ema
- On the 1 min chart the two legged pullback after the first leg down is clearly visible
Outcome
Bingo!