It was a very short trading week for me. The trading platform was off from Mon-Thurs to "get stuff done"... did I get'r done? Well definitely not as much as I had hoped, but it was some needed time off none-the-less.
Friday was back in the office as usual around 5am to do my typical early morning scanning, which did not produce any immediate buy/short entries after the open. ATVI was on my list to go long after it had gapped up over 4-months of daily consolidation. The opening 5' bar was a bit wide and coming right to the point of prior Major Resistance on the daily chart - I was not convinced to play it over that high, so I waited for another setup, which didn't come (for me).
Nothing else was setting up for me either until scanning thru the Top-20 gainers/losers list. Symbol TE came up and I quickly noticed how far and fast it had runup. It was a continuation move from the prior days late day breakout pattern. Seeing how extended it was on all charts, I shorted the 1st 5-minute reversal at 9:55am.
Check out the chart...
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