AAUK,ABX,AEM,AG,AGU,BARE,CHK,CSIQ,CY,DNR,DSX,ECA,GDP,GG, GME,HRB,KGC,NEM,RSG,SPWR,STP,TEVA,TITN,TRA,TXT,UN,YRCW,
CCL,IVGN,MVL,T
GME (gap up)
After gap up we push thru OR on 3rd candle before retreating on the 4th. The 5th is bullish green hammer followed by a bullish 6th WRB. We then get a retracement we are looking for over the next 3 candles. The 9th is a green NR7 closing strong and off the ema. This is our long trigger.
Entry: 46.83 Stop: 46.65
Fib Ext: 47.29
1R= 47.01 2R= 47.19 3R= 47.37
We take partial at Fib Ext (just above 2R) and leave rest to run. This is closed at end of day for a very nice gain.
ECA (gap up)
After gap up we have a bearish first candle. This is offset though by a strong trend up over the next few candles. The 5th breaks the OR but the 6th comes back down. The 7th is a bullish green hammer like which breaks the OR again and closes strong and off the ema. This is our long trigger.
Entry: 93.97 Stop:93.40
Fib Ext: 95.96
1R=94.54 2R=95.11 3R=95.68
We move nicely up after entry and take partial at $95 whole number after a $1 gain. The rest is left to run, but doesn't follow thru and we close this remainder at breakeven.
CY (gap up)
The 1st is indecisive and followed by choppy action at the OR high as we gain support. The 6th is bullish green and off the ema and closes strong as it breaks thru the OR. This is our long trigger.
Entry: 27.49 Stop:27.16
Fib Ext: 28.01
1R=27.82 2R=28.15 3R=28.48
After entry the stock never follows thru and we close out for a loss.
CHK (gap up)
Initial price action is bit volatile, so maybe should have left this one alone. Then followed by choppy action at the OR high. The 7th is bullish green and off the ema and closes strong as it breaks thru the OR. This is our long trigger.
Entry: 61.33 Stop: 60.78
Fib Ext: 62.58
1R= 61.88 2R= 62.43 3R=62.98
After entry the stock never follows thru and we close out for a loss.
Overall a mixed bag. But as long as winners make better gains than losers, then we still doing ok. The market is tougher at the moment, no doubt about it.
8 comments:
Good trades! Your GME trade must have more than made up for your one minor loss.
I know you do not like to take trades late in the day but what do you think of STP 21st bar. Semi sane? Solars were doing pretty well today so I was hoping STP would follow.
Thanks and keep up the good trading!
pdt.
Yes GME was handy today. In fact I had two losers (CY and CHK).
STP 21st bar > closed strong above the OR and ema. So yes I can see your argument for it. Just didn't follow thru though, like a lot of stuff today.
AAP didn't make it to your wl (any particular reason?) and offered a very nice setup (off the 10th bar) and reward.
Thx a lot for the great blog, the early WL and your trades analysis!
atltrader
AAP> didn't appear in my IB scan. Not sure why though.
On my charts the 10th bar is just a green candle, so I probably wouldn't have entered at that point. Well done though for capturing that move.
Glad you like the blog.
nice trades. With GME did you have any concern entering above the 119% level? Also, what was your price target upon entry?
With ECA... I entered off the 11:45 candle. I looked at where you entered but didn't like that it set up right below $94 (resistance area). Do you consider the round numbers at resistance/support... especially for entry?
Entered GME off the 5-min and was chopped up at first. Also entered CF and got chopped. Story of my last two weeks. I think I'm sticking to the :15 for now.
00nr7.
GME > Wasn't concerned about the 119% level. My inital price target was the around the Fib Ext (around 2R), so anything after that was a bonus.
ECA > Yes I did consider the round number. However the previous two candles had exceeded it by a fair distance. So I didn't think of it as a significant resistance level in this case. If the prior red candle had bounced of it (or within a few cents of it) then that would have been a different story. Even so, I was watching closely and the next two candles closed above it which was a good sign.
very interesting thoughts... especially concerning the round numbers.
Nice trading as usual~
What do you think about ALV (12:15)?
Volume of the 10:45 bar is strange though.
Thanks in advance~
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