ACH,ASML,AZN,BCS,CHTT,FLS,GG,GRMN,LOGI,MI,MSM,NITE,
NUAN,NTRI,NVLS,PXD,SHPGY,SNE,ZION
I didn't have much time for the markets today as work was busy which meant that I started later than usual after market open. Additionally there was not much which showed enough to warrant a trade. In end I just traded once as below.
SNE (gap down)
After gap down, the stock is very weak and falls thru the OR easily. We keep trending down until finally a retracement occurs on the 8th candle. The 9th is a NR7 which bounces off the ema resistance, it's also gravestone doji and closes weak. This is our short trigger.
Entry: 40.58 Stop:40.78
Fib Ext: 40.51 (so we are looking for movement beyond the Fib Ext)
1R= 40.38 2R=40.18 3R=39.98
Price drifts down nicely initially and we take partial profits at 2R since the decade $40 is approaching. The rest is closed at breakeven as the decade $40 holds and we bounce from there.
Overall not much action today. Hopefully the market will decide soonish where it wants to go so that we can avoid this choppy action.
3 comments:
TR: nice catch. I had no luck catching anything today.
Would it be too much to ask you to post your watch list as soon as you put together in the morning? By the time you post after the market closes it is too late to be of value. Thanks again. Ralph
I have to balance my work with trading at the moment. And I like to stay focussed on my trading when I have the opportunity. So I cannot promise to put up a watchlist everyday. However if I do have time then I will.
I would also add that this blog is just really a journal and if it helps people in an educational sense then that is fine, but it is not a recommendation to make any trades.
One last point is that it is a good idea to go thru your own process of constructing a trading plan and watchlists etc.
It's always going to be the case that you read blogs etc and see their trades and wonder why you didn't have that stock on your list etc. The blogs that i read many times have trades which i have missed or not considered. It doesn't matter as long as you realise that if you have a decent size list then on most days there will be opportunities.
TR: Thanks for input. I agree. nothing like being your own man. Thanks again, Ralph
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