AAUK,ABX,ANN,AXP,BAC,BBT,BCSI,C,CAL,COF,COG,CPHD,DRYS, GG,GPS,JPM,LEH,LVS,MER,MS,STI,STLD,VRGY,WB,XTO
Just the one trade today due to work commitments. Turned out very well.
XTO (gap down)
Initial action is sideways within the OR, then we hit ema resistance and start to head down. We break the OR initially then come back on a retracement. Still obeying the ema though and the 11th is a weak red which breaks the OR, off the ema and closes weak. This is our short trigger.
Entry: 48.76 Stop: 49.25
Fib Ext: 47.63
1R=48.27 2R=47.78 3R=47.29
The price falls nicely after entry as we pass 1R. We take partial profits near whole number (around 1.5R) and then close rest of position at Fib Ext (just above 2R and $1 gain). The market was still strong during this trade, hence the partialling out at whole number and Fib Ext.
2 comments:
congrats on a good week.
Thanks 00nr7..
Post a Comment