20070322 - INTU - 15mins - Loss

Symbol: INTU
Type: Short
Entry: The beginning of the 16th bar
Exit: Stopped out mid-way through the 21st bar
Result: Lost -0.29%

INTU remains on my screen today, I was still hoping another opportunity to win back some money that I lost today. I noticed that the 15th bar was a very weak, closing close to its low, and beyond the Opening Range low. Therefore, I took a chance to enter Short, hoping that the falling 5eMA will continue to push the prices down towards the next Fib. Extension. Unfortunately, prices consolidated sideway, and I was stopped out on the 21st bar. My Stop was set really tight, on purpose, because I wasn't sure about my own observation either. No to mention that I do not inflict further damages to my account today!