ABX,ADTN,AGU,AMAT,ASML,CLR,ELN,FMCN,FRE,INTC,ITW,JCI,
JPM,KGC,LLTC,MOS,MS,NITE,NVDA,SID,SLM,SNDK,STX,WFC
STX (gap down)
1st candle is weak. Then we have consolidation over the next few candles at the lower 1/3rd of the OR. Note the upper wicks on these candles indicating bearishness. 6th is a gravestone doji bouncing off ema, it is also a NR7 and Nr3 and closes weak. This is our trigger.
Entry: 19.27 Stop: 19.47
Fib Ext: 18.86
1R=19.07 2R=18.87 3R=18.67
The price falls nicely after entry and we take partial profits at the Fib Ext. which is around 2R. Then we go sideways to the close when we close the rest at end of the day for 1R.
SID (gap up)
After gap up we have some bullish candles as the price rises up quickly. Then we go sideways with narrow candles as we find support at the ema. The 11th bounces off the ema and closes strong itself for new high of the day. This is our trigger.
Entry: 42.67 Stop: 42.40
Fib Ext: 42.88
1R=42.94 2R=43.21 3R=43.48
We take partial at the Fib Ext (1R) and then close the rest at end of the day for about 2R.
ADTN (gap up)
1st candle is red, but 2nd is strong and breaks the OR. Then we have choppy action along the OR for the next few candles. The 6th although red, has a long tail which bounces off the ema. The 7th closes above the OR and with the ema close by. Also it closes strong itself. This is our trigger.
Entry: 22.33 Stop: 22.12
Fib Ext: 22.99
1R=22.56 2R=22.78 3R=23.00
We take profits at around 1R towards the end of the day. We failed to reach the Fib Ext and we just drifted sideways to the end of the day.
Overall a good day and I did miss quite a few other trades from my list, since work meant that I couldn't compose my watchlist on time, so I was rushing a bit. This was also the reason why I couldn't post my watchlist during market hours today. However, with today's market action, I'd imagine most traders would have found good opportunities whichever scanner they were using.
4 comments:
TraderAm,
Is the posted stop and 1R value correct for ADTN? I thinking your stop was around 12.15 or under.
u r doing great.Do trade with other traders?
Jim..
Thanks, I have corrected the figures. I was all in a rush yesterday in both trading and blog posting, so I copied and pasted text from a template and didn't check that I had changed my figures (Fib,1R etc) correctly.
prd trader.
Hello.
No I just trade on my own in and around work when I can. I am lucky that my current work allows this sort of flexibility.
I did try a trader's chat room once last year, but found it too distracting.
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