Shorted INTC where I thought the pullback would end, at a likely double-top and after 2 bars on the 60 min chart. I was wrong. Shorted on limit order at $53.30, stopped out at $53:54…as the pullback continued til $53.79
- That price area formed a double top with the shoulder after 10am.
- The spike and channel shape of the pullback culminating in a final flag…to me it looked like a pattern completed
setup 60 minute
outcome 5 minute
shorted at $53.30, stopped out at $53.54. 50 shares for a $12 loss…