ACH,APOL,BCS,CTSH,DV,EXM,IBN,ING,IRF,LOGI,MCK, OMI,SGMS,SNDK,SOHU,TS,UBS,WU
A good day today where stocks followed thru, which is a nice change from the choppy behaviour of recent days.
LOGI (gap down)
After gap down we trend sideways before the 5th candles breaks the OR. The next two candles test the OR and still close below it confirming weakness. The 7th is red hammer like which is off the ema and closes weak itself. This is our short trigger.
Entry: 27.69 Stop:28.14
Fib Ext:27.26
1R= 27.24 2R=26.79 3R=26.34
We go sideways for most of the day but finally get the down move we are looking for at the end of the day. We close our positions at the end of the day for around 1R.
N.B> I had to use my backup broker for this trade as IB didn't have the shares to short.
SOHU (gap down)
Weak first candle and then it's all downhill from there. We finally get a pullback we are looking for on the 7th, 8th and 9th candles. The 9th is NR7 off the ema and below the whole number. This is our short trigger.
Entry: 75.30 Stop: 75.95
Fib Ext: 75.61 (so we are already past this point).
1R=74.65 2R= 74.00 3R= 73.35
After entry we have perfect price action as we trend down with the ema. We take partial at 2R (whole number $74.00) and leave the rest to run. This is closed at end of day for a very nice gain.
WU (gap up)
First candle indecisive and then 2nd breaks the OR. The 3rd is red but longish tail indicating bullishness and closes just below the OR. The 4th is bullish hammer like and breaks the OR. It is reasonably close to the ema and closes strong itself. This is our long trigger.
Entry: 24.79 Stop:24.42
Fib Ext: 25.40
1R=25.16 2R=25.53 3R=25.90
The next candle is red but we stay above the OR which is a good sign. Then we trend up with the ema nicely. We take partial at the Fib Ext which is just below 2R and leave the rest to run. This is stopped out later at breakeven.
3 comments:
SOHU was a nice trade, but that was wasy too late in the move for me.
congrats!
qqqball, where would you have entered? Doesn't look like there is any low risk entry set up anywhere else.
oh you definitely hit the entry - excellent snag... i just dont grab $75 stocks that are already down $6on the day.... my cover finger would be so twitchy i'd be out at the first hint of reversal.
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