AGU,BEAV,BIG,CMI,CSG,CSH,FCN,GT,HSY,HUM,IBN,JRJC,KWK,LFC, NFLX,NTES,PWRD,SDA,SHPGY,SINA,SOHU,STO,SYY,TX,UBS,VZ
Very choppy day today, only one trade made.
GT (gap down)
1st candle is red then some choppy action follows before we start moving down with the ema. The 6th candle breaks out of the OR, but there is no specific pattern, so we wait for the next candle. This stays below the OR and the ema and also closes weak itself. This is our trigger.
Entry: 27.40 Stop: 27.75
Fib Ext: 26.78
1R= 27.05 2R=26.70 3R=26.35
We move down after entry and reach the 1R near the whole number. There is no follow thru however and we don't fall much further and so don't reach the Fib Ext. We close at the end of day for a minor gain (of around 0.75R).
4 comments:
TR: My entry in GT was exactly the same as yours. I passed on the 6th bar because it was a WRB, so I waited for a low risk entry point = 7th NRB b/d. I was up about 1R, I then moved stop to b/e. However, the strong WRB (11th) rally forced me to exit at about b/e.
Exact same thing happened to me with NTGR on Friday.
The good news (1) I am beginning to see things your way, and (2)I am getting free rides, thanks to your money mgt rules.
I also liked NTES for 2 reasons (1)an ascending triangle formation within the OR, and (2)the marabuzo bar at the OR b/o. Would you have traded? Also, if the marabuzo was a hammer bar instead, would you've traded?
I like (1) ascending triangles at the OR prior to b/o, and (2) Flags formation after the OR b/o. Your thoughts will be highly appreciated.
Thanks for input, Ralph
Ralph.
GT > what were your entry and stop for GT ? As in my case, the 1R wasn't reached until after the candle which stopped you out. Consequently I remained in the trade.
NTES > I don't see a marabuzo bar at the OR b/o on my charts. There is one at candle 5, but that is within the OR ?
Triangles and Flags > yes ok, but I don't really use them in my current trading per se. But often the reasons for my entry do coincide with these formations. If it works for you , then use it.
nice trade... looked really good off the 10-min chart (10:40 bar).
thanks oonr.
Yep, the 10min chart would have given a better entry and reward.
Perhaps something I should think about.
Post a Comment