FOSL Short Play

Looking at FOSL in the morning today...decided to set a short @ 94.50 looking for selling pressure at previous resistance.


FOSL after close

FOSL Short Setup

Short setup I am watching on FOSL

Watching IBM

I took a short in IBM today, maybe a little bit aggressive. I am watching for the bear flag to resolve to the downside. Target is 150

20 Day 30 Minute chart

A short in FOSL

I decided to follow my rules an short FOSL on a 5m chart.

• Below VWAP
• Broke the low of day
• breaking down from a daily bear flag pattern

5-Min Chart




next day FOSL gapped down and I shorted again and covered at the EOD.

Why i can't trade

because I don't follow simple rules. for now, i am going to set some up and read them everyday until i recite them in my sleep.

• For now only trade 100 size to minimize losses
• Don't let losers ride
• Don't add to losers !!!!!
  
• Wait for confirmation on all of your entries..
• For now don't short above VWAP and don't go long below VWAP
• Play the plays that have made you money in the past (bull flags)

Can't think of anymore at the moment, but will add some more later.