ACI,AMZN,AXA,AYI,AZ,BID,CCL,COF,CSCO,KEX,LDK,LEH,LFC,MEE,
PCS,PLXS,RCL,SCHN,SOLF,STZ,URBN,WFR
A tough day today and also a bit annoyed about a missed trade.
CCL (gap down)
A weak first candle with longish wick. The couple of green candles follow but again they have bearish influences with long wicks. The 3rd also comes off the ema. The 4th is weak as it heads down to the OR. The 5th is a red hammer like which closes below the OR. This is our trigger for a short.
Entry: 41.26 Stop: 41.67
Fib Ext: 40.87
1R=40.85 2R=40.44 3R=40.03
The candle after entry is weak and closes weak, adding to the confidence in our trade. However that is as far as it goes. It comes back strongly and we are stopped out later for a loss.
AMZN (gap down)
A weak 1st bar is followed by some choppy action but we do observe the ema as we go down towards the ema. The 7th is red hammer like candle and NR7 and it closes below the OR. This is our short trigger.
Entry: 74.10 Stop: 74.65
Fib Ext: 72.78
1R=73.55 2R=73.00 3R=72.45
We move initially into profit, but then it reverses and we are stopped out for a loss a few candles later. We could point to the long tail on 8th candle as danger signal, but I've seen these as a prelude to big falls as well.
LFC (gap up)
This was a trade that I missed. I was watching it but just missed the signal for some reason. Maybe I was thinking too much about shorts and didn't consider a long..not really sure.
The first candle was bullish with longish tail. We then move up past the OR before retracing back into the OR where support is found at the ema. We cross the OR again after this bounce from ema. The 9th candle is NR3, NR7 and it bounces off ema and closes above the OR. It also closes strong which adds to the bullish scenario. This should have been our trigger. Would have been a good gainer if taken.
Overall a losing day. It will happen, especially in current market conditions, so just take it on the chin. We have to take a month by month view and see how we get on in our P/L performance.
2 comments:
it happens... and it's now in the past.
Wise words :-)
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