GOOG Closing Candle

First I closed the GOOG core short position which was a partial position (it needed to be filled out) partly to protect the profit and partly because I saw an opportunity to open the entire position at a better level.

Closing GOOG Core Short (Partial Position) for Now

This is the rough P/L...

Then I showed you the charts of why you might want to consider a (long) hitch-hiking trade in GOOG...

GOOG Charts & Trade Idea 

One of the reasons was the daily "Closing Candle" which we hadn't seen yet, but I suspected it would be an upside reversal candle...It looked like this...

 I was looking for today to close with a bullish Hammer on higher volume, we weren't there at the time of the post, but take a look on the close...

That's even better than a Bullish Hammer, it's called a "Harami" or as the Japanese call the 2 candle pattern, "Mother with baby" and is a strong upside reversal candle. 

The second part is volume, when we have heavier volume on a reversal candle they just work, I'd say 2 or 3 times better, but really it's hard to say because I don't recall the last time one didn't work (although I'm sure there was a time).

So I'm glad to have closed out the position and will look to re-open a full core short on a volatility shakeout above resistance (>$550).

*Often the third day (confirmation candle) will gap lower and close higher than today's close, the IWM 1 min chart of the last post suggested that to be a probability so if you are interested in a GOOG long for a swing trade and then perhaps enter a short at the right time, you might get a chance to grab some shares art a better price tomorrow morning.