MVSN - Short

Hey... how about that, a trade which I can post a chart??? Today really wasn't any different than the previous couple days as far as gappers are concerned (not a lot of candidates). However, I did find a great setup on MVSN. Here's the trade:

• Placed fibs. from first bar high to second bar low
• Price rose, tagged the 61.8% level, dropped and consolidated just below the 38.2% level
• Entered short on a break of the 10:50 candle low (notice the half circle before entry) on increased (actually huge) volume
• Price broke down below the ORL but then consolidated again right above the fib. ext. and I decided to pocket my winnings at that point
• I've written a couple of posts recently about the 'craziness' before an entry candle. This trade was very 'sane'. Very little lower tails and a good amount of NRBs before entry.