A top is usually formed whenever price accelerates above an upper trend line then closes back below it. When there is a divergence in market orders and price action that normally means Limit orders are in place. Market orders follow price action about 80% of the time. I tried to short this, but IB had no shares to short. Sell Limit orders were pressing lower, so price should drop back down to the level where Buy Limit orders were at the bottom edge @ $4.00 on Monday.
FYI: http://finance.yahoo.com/news/fite-biopharma-announces-9-million-035600216.html
Lesson by an expert who is negative 15k. Awesome!
At least I'm being transparent. I learned from one of the top 3 instituional forex traders in the world, but I have trouble with money managent and over trading. Knowlege of markets is only 1 part of the puzzle of trading. I have to learn how to cut losses quickly like Tim teaches.
by the time you learn that, stop preaching people!
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