ABMD,ADP,AIG,AU,BBD,BBT,BCS,BHP,COF,DRI,DRYS,HAS,
HBC,LVS,MGM,SID,SPLS,UBS,UAUA,VIP,WCG,WYNN
ADP (gap down)
First candle bullish. Then we have successive narrowing candles as we hit ema resistance and can't hold the OR high. The 5th is off ema and closes weak. This is our short trigger.
Entry: 44.27 Stop:44.53
Fib Ext: 42.60
1R= 44.01 2R=43.75 3R=43.49
The price action is promising after entry as we move down to 1R. But that's as far as we go and the stock recovers to stop us out for break even.
HBC (gap down)
First two candles hold the OR, but after that we have sideways consolidation below the OR which is acting as resistance. The 7th is red , off the ema and OR confirming them as resistance and also closes weak itself. This is our short trigger.
Entry: 76.66 Stop: 77.07
Fib Ext: 75.74
1R= 76.25 2R=75.84 3R=75.43
The price does drift down after entry, but then never follows thru and it recovers to stop us out for a loss.
Only the two trades today, I did like WYNN but couldn't get a good NR candle to trigger off. BCS, DRI and AIG looked promising, but I wasn't convinced of a good enough entry.
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