Another tough day today with not much showing enough price action to trade. It's just a case of waiting and not forcing trades. If you can stay at breakeven or better or limit your trades in current market conditions then that is a positive sign.
CTB (gap down)
A very weak first bar is followed by a brief look past the OR before a small retracement. We then have narrowing candles 4,5 and 6. The 6th is a weak candle with longish wick and which breaks thru the OR and closes weak. This is our short trigger.
Entry: 15.17 Stop: 15.45
Fib Ext: 14.16
1R=14.89 2R=14.61 3R=14.33
After entry, the stock basically did nothing. Just went sideways. We closed our position (for a slight loss) a few candles later as it closed above the OR.
AZN (gap down)
After gap down we have sideways consolidation for 3 candles. The 4th is a hanging man type red candle which closes below the OR. This is our trigger for a short.
Entry: 37.30 Stop: 37.55
Fib Ext: 36.88
1R=37.05 2R=36.80 3R=36.55
The price moves down nicely and we take partial profits at the Fib Ext. The rest is closed after candle 16 which closes strong above the ema and it follows a base of support forming at the whole number $37.00 on previous candles. So overall a gain in region of 1.5R.