01/21/2016 Trade status for $ZFGN & $EGL

I just trade these two tickers today $ZFGN & $EGL.
Pattern use: Fail Support Level
I traded this ticker yesterday and make pretty good over $2 profit on upside and downside. This ticker run pretty good premarket, so my plan is to short if it's fail certain support level. I didn't get to my office until 10:00am and miss the market open selloff. I spot the $9.70 support level and wait for it to fail, the key here is wait for the setup come to you. Just like setting up a trap. I saw it drop below $9.70 support, I start in short but then run back up. I cover (green arrow) because didn't go with my plan, then it's drop below $9.70 again so I short again, this time it drop a little bit more and come back up again... This time I just wait and see what it does. It's doing Red/Green MOVE so I cover again. It's like tricking me and I am done with it for a tiny loss. I should have cut loose just above $9.70 but decided to let it run and see. I lost about $100 on this trade but at the end my plan was right but should have been more patience and I can re enter the trade later when that 3rd time drop below $9.70 there.



$EGL
Pattern use: Fail Support Level
This ticker was down big today so I think it could go lower. The set up that I saw was $16.32 and $16.23 support level. I am watching for the setup to come. Once that level fail I will start in the short position and use that two level as a risk. I start in short with average $16.30 and cover 1/2 size on the first big wash $15.27 for $1.03 profit. My plan is to cover the second 1/2 around $14.50 or so but didn't crack, so I just sit and wait wait wait then EOD cover around $15.39. I could have cover around $15.00sh but you never know. Sometime patience paid and other time patience didn't. Overall it's a good trade over 2K profits.


Trade less profit more....



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