Bear Flag Breakout - First Solar, Inc. (Public, NASDAQ:FSLR)

FSLR, from the watch list, attempted to rally but couldn't recapture the down sloping 20 ema and eventually carved out a bearish flag following a doji falling star and a second star with upper shadow. I shorted as price took out 7/15. The BO bar (8/15) closed near its lows which is a key success factor. The next bar also closed on its low and I was planning to take a partial at S2, but got stuck in a consolidation. I moved my stop above the previous bar high and waited it out.

When price finally hit S2, I decided to hold. I trailed a stop above each completed bar and took a partial as price approached the round number $180.00. I was stopped out on the next bar textbook style.

Had I not been so anxious to book my profit on the second half, I could have left my stop above the last WR red bar and profited from the late day swoon.

With all the excitement of the FSLR trade, I forgot about HANS. I set a sell stop order on HANS well ahead of the actual inverse C&H break. I don't normally like to take an entry on a WRB. But once it triggered I just managed the stop and eventually, it got the job done.

Unlike the HANS trade, I was in control on this JOYG inverse C&H entry. I liked how orderly the inverse C&H pattern looked and had high expectations to reach the target following the BO bar. I took a partial after price recaptured S2 on the first test. After the test of S2 things seem to get disorderly. Eventually, it retested the swing low but just wouldn't fall down.