12/21/11 After hours trade: $100 Profit. Trading Price Structure, bear channel

The most important technical indicator I use is price structure. I defined exactly how to trade certain price structures. When I spot the structures, I try patiently wait for the highest probability trade. For example, in a bear channel, the highest probability trade is shorting the highs of the channel. Next, its buying the lows of the channel. I recognized the bear channel and shorted around the highs of the channel with a stop above the resistance. I made the big mistake yesterday of not trailing my stop and having a target too high, therefore I made sure that my target on this trade was at the lower support line of the bear channel.

This trade yielded $100.