Shorting Rounded Tops

Played MDRX on the long side than the short side today.  MDRX had negative news on earnings and had a huge gap down.  GMAN said that the stock was holding the $9 level.  My entry was @ 9.25.  The price was above the 9EMA and 20 SMA and flagging.  Sold a quick 1/2 @ 9.50, and 1/4 @ 9.82.  I added another position when the stock broke the HOD @ 9.87.  Sold a quick 1/2 @ 10.  I meant to place my Stop @ 9.85 but placed it @ 9.90 (ITrade's new platform sucks) and got wicked out, or I could have enjoyed the nice run to 10.50!!
The stock topped out @ 10.51 and started forming a rounded top.  I shorted at 10.32 (previous level) for a quick gain.  1/2 @ 10.12 and 1/2 @ 10.28. Once the price action broke above 10.24, the trade had reversed and exited.  It made a lower high and came back to the same level.  I shorted at 10.29 this time, but there was no follow through and exited for scratch.
Here are the 1 minute and 5 minute charts.  I saw the trade much better on the 1 minute chart.

I noticed the rounded top as a result of a conversation I had with my buddy @Ktrades this week as we were discussing price action.  Thanks!!!

Shorting Setup for Playbook

From BCLUND

http://bclund.com/?p=5523?utm_medium=related_plugin&utm_campaign=related_plugin&utm_source=bclund.com

1. The overall stock market is overbought, in a trading range, or trending down, not breaking out or oversold, and
2. The stock I am shorting–its industry is in a downtrend, and
3. The stock I am shorting has entered a downtrend itself.

Look for certain chart patterns (and these apply on any timeframe). I want to see the stock first move in a “false” direction, breaking out to the upside, then reverse and hit a new low for the day, then when it tries to bounce back and rally towards that daily high, I enter the short position as it approached that high and place a stop from .01 to .20 cents above that day’s high price.