alexp
Short

Short in PETM

BATS:PETM   None
218 0 0
There are several reasons to enter this trade:

1) it's a failed breakout long after first break of a bear trend line
2) it's second entry short
3) it's a two bar reversal after the market has trapped bulls (bear bar is 4 cents higher than bull bar)

Ideally, should work all the way to the bottom of a bear channel around 64-65 area (and with >50% probability breakout lower on the other side of a channel later)
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