AEM,ALXN,AMED,BDE,BMRN,CL,CMI,DDUP,DF,DRC,DWA,EQ,FORM,GM, GRMN, HES,INDM,IP,JASO,JLL,LDK,LFG,NETL,OMX,OTEX,PNRA,RAI, SAP,SEE, SIMO,STAR,STP,TNB,TRLG,TRW,VPRT,WFR
A nice day to end the month on.
LFG (gap down)
First candle red is followed by inside bars before we break out of the OR on the weak 4th candle. We then consolidate with narrowing bars just below the OR. The 9th, 10th and 11th candles area all NR7 and stay below the OR (which is at the decade $30 level) and also obey the ema above. Any of these could have been our trigger.
Entry: 29.46 Stop: 30.05
Fib Ext: 27.44
1R=28.87 2R=28.28 3R=27.69
The candle after entry is promising, however we fail to follow thru and the stock finds support at the $29 level. We reach 1R, but then are stopped out at breakeven.
PNRA (gap up)
We have a gap up followed by trend up towards the $50 level. The 4th candle breaks out of the OR and then the next candles maintain this as support. The 8th candle falls below the OR but closes strong above it and also above the $50 level. In addition it closes strong itself (hammer). This is our trigger. Due to the size of the stop required, we couldn't buy many shares, but it
worked out ok.
Entry: 50.30 Stop: 49.35
Fib Ext: 51.62
1R= 51.25 2R= 52.20 3R= 53.15
The price goes sideways after entry. But we always hold the OR as support and despite the fall on the 14th candle we still do not close below the OR during this consolidation phase. Later in the day the stock regains momentum and we take partial at the Fib Ext and then at the end of day. Nice gainer.
JLL (gap down)
The first candle is strong, but then weakness sets in and we fall past the OR on the 5th candle. Then we have consolidation with narrowing candles just below the OR. The 7th , 8th and 9th candles are all NR7 and obeying the ema. So any of these would have been valid trigger.
Entry: 78.73 Stop: 79.45
Fib Ext: 75.28
1R= 78.01 2R= 77.29 3R= 76.57
The price falls nicely after entry and we take partial profits after a $1 gain. The rest is left to run and we close at the end of day for another nice gain.
3 comments:
i dont trade PNRA. i tried a few times and it was just one of the tuffys to trade.
TR: Nice Trading, and Great Month!.
Surprise you hold positions into Fed meetings. Most traders avoid market during fed day. Any qualms?
Do you have any hesitations about trading option expiration fridays?
Quite a few bloggers subscribe to the notion that a lot of nightly analysis is required prior to market opening. All I have ever done is run my scans and trade set-ups intra-day, with very little nightly homework. Are you the same? Ralph
Fed Meetings > Can be a bit hit and miss. Some times i've not traded at all and when looking back in hindsight, the trade patterns still would have worked out ok. Other times, the trades don't work out and it would have been better to not trade. A good compromise may be to trade smaller sizes ?
Option Expiration > I still trade if charts patterns present themselves
Nightly Analysis > I don't do any. If you compile a watchlist from for example daily charts and then trade using intra-day patterns the next day, then nightly analysis is obviously required. I know some successful traders do this very well. But I just run my scan after market open and trade the gappers.
Thanks
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