VRSN - Verisign

[MC]

Broken head n' shoulders do the downside. Light volume on the break so do be cautious, but I'm in for a paper short on this.

Weekly also seems to show rejection on the attempt at a new high.

IMO of course.

Thoughts?

[brownsfan019]

MC,
Here's my 1 minute review while working an ES trade...





In the above chart, I see:

Possible support area here w/ the Bollinger Band and previous attempts to break this. I would love to short BELOW this level.





In the above chart (bigger timeframe), I see:

The Bollingers and Candles can provide some trades, but you can also get caught into a trending move that just moves up/down the band. Entry method would be vital here.

=======

In other words, I can see why you took a short here. I can also see reasons to be a bit hesitant on shorting here as well.

We'll see how it reacts on the FOMC, if at all.

I know nothing about this stock so hard to say 'based on' statements.

[MC]

	Quote:	brownsfan019
	MC, Here's my 1 minute review while working an ES trade... In the above chart, I see: Possible support area here w/ the Bollinger Band and previous attempts to break this. I would love to short BELOW this level. In the above chart (bigger timeframe), I see: The Bollingers and Candles can provide some trades, but you can also get caught into a trending move that just moves up/down the band. Entry method would be vital here. ======= In other words, I can see why you took a short here. I can also see reasons to be a bit hesitant on shorting here as well. We'll see how it reacts on the FOMC, if at all. I know nothing about this stock so hard to say 'based on' statements.

I have a plan for 1 scale in and then a tight stop since I'm being aggressive on it. Lil pop on FOMC but light volume so far.

Thanks for the input.

[brownsfan019]

So up on the day, but like the market, it came down towards the EOD. As a long, I would have liked to seen it close near the top, so we'll see how she acts the next day or two.

[MC]

Volume was moderate on the bar so it did have some buying pressure. Time will tell, I have the stop in GTC and embrace the full risk. (It's paper but for all intents I would trade this the same live at this stage of my education)

[brownsfan019]

MC - outline entry, stop and profit target(s) for us/me. Just finding the pattern is step 1.

[brownsfan019]

Breaking down nicely so far today for the short MC. The bulls just did not have much force behind it yesterday so we'll see how today goes.

[MC]

I didn't have time to reply yesterday, sorry.

I'll say this I scaled out 1/2 and moved the stop to $39.75 on the last half.

$39.26 is my cost basis. An aggressive 1st entry and then a higher scale in as planned.

Like I said though...again I'm on paper guys, just to be 100% forthcoming.

[MC]

I was stopped out quite some time ago on this play, proof I need to work on my stops and continue tweaking some. Did anyone get in on this tanker?