This Is Why You Should Pay Attention To Tails

  • January 5, 2005
  • Tsutae Kamada

When you see an upper
tail at a resistance level, this is a good sell signal. We locked in
profits on TIF’s swing short position this morning.

13:48:03
(From TradersWire 1/3/2005)

 Daily
Setup Alert


Tiffany & Co (TIF)
is starting to form a bearish tail at a resistance line. Short TIF if it trades
below 31.86. Place a protective stop at 32.25. TIF is trading at 32.04, up 0.07.

As you can see above, the stock failed to take out the resistance line. Notice,
an upper tail is much longer than a real body (red part of the candlestick).
Definitely, profit takers were stepping in the market.

09:34:50
(From TradersWire Today)

Follow up on TIF  

It hit our adjusted stop.

Have a nice afternoon session!

If you have questions, feel free to mail them to me.

T.Kamada

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