ADSK - Short

Flatwallet asked me yesterday if I only trade hammers... and this was a portion of my reply:

"...if I see a hanging man after a long run up at a key resistance area, I will short the low of the hanging man..."

A great opportunity came up today to do just that in ADSK. Here's the trade:

• Placed fib. levels from first bar high to the third bar low
  
• Price initially gapped down then quickly started climbing towards the HOD (possible resistance)
  
• The 10:15 candle formed an inverted hammer with a long upper tail. A sign of a possible reversal
• The next candle was a hanging man with slightly increased volume and I shorted the stock on a break of this low
  
• Exited at the fib. ext after the increased volume at the OR low failed to generate a reversal (I did not manage this exit well)

I didn't like my exit as it never met the Trader X criteria. I should've waited to see if price took out the high of the 11:30 candle. I basically left .62 on the table. Nevertheless, I'm happy with the trade and anytime you can get out near the fib. ext. for a profit is a good thing.