Aggressive short entry on break of low of DV (Distribution ) bar with significant weakness in the background. Distribution is a term I use to identify high up bars with a down close. This term I use is from my study of VSA ( Spread Analysis), which is a methodology based on aspects of the Wyckoff method that looks at , spread, and close of individual bars and waves. This is an aggressive entry because it is the second entry after the 1st DV entry on 12-19-14 who's target would have been the low of wave 5 and would have an initial stop above the above. This entry will have a tighter stop above the high of the bar, and a much deeper target at the last major as shown at $108.92, instead of the intermediate at wave 5. I would enter with 1/3 to 1/2 of a full position, then add on after a strong break of the at wave 5 and a low rally back up to the support turned with a target for the full position at the $108.92 level.
Background Weakness: wave 5 moved 6.73% on -4.1m shares, which is a larger % and move than both waves 1 & 3, showing increasing weakness; wave 6 moved 6.7% on 5m shares, which is the largest wave in the last 3, with waves 4 & 6 unable to break the set by wave 2, indicating significant supply at this level. Plus a DV bar at the end of wave 6, further indicating supply overcoming demand.
Another reason that I term this an aggressive entry is due to the potential of the intermediate at wave 5 holding indicating that this trading range is in reality a re-accumulation zone rather than a distribution zone.