Morning all.Good trade for yesterday on GMG, but got caught...

Morning all.

Good trade for yesterday on GMG, but got caught holding about 40% of my 0.675 entry, again got distracted with work issues, hence missed jumping off. Hindsight my parked exit 0.71 was spot on, maybe wiser to have parked the lot.

as for the shorters methodology;

Cover On Approach
What Does Cover On Approach Mean?
The closing out of a profitable short position as the security moves toward a key level of support. As a security moves closer to a level of support the chances of it falling any further weaken because buying has come into the security at the support level, which keeps the price from a continued downward move and limits the continued success of the short trade.

Investopedia explains Cover On Approach
Critical support levels often provide limits for how far a security can fall. By covering before the security gets to the support level, they are being conservative with their gains as support levels limit further moves downward and can often see large moves back up as the security bounces.

http://www.investopedia.com/terms/c/coveronapproach.asp