ABB,ABX,ACH,AIG,BAC,BBD,C,CHL,CHU,CLNE,IACID,MBT,MW,
PBR,SAFM,SID,SPWR,TIF,UBS,WSM,XL,EMR,ZLC
AIG (gap up)
First candle is indecisive, then we trend down within the OR before catching support at previous day's high. We bounce and trend back up with ema with strong candles. The 7th is bullish green which breaks the OR and closes strong off the ema. This is our long trigger.
Entry: 20.67 Stop=20.38
Fib Ext: 21.02
1R=20.96 2R=21.25 3R=21.54
The price trends up nicely after entry and we take partial at 1R since we are near the Fib Ext and also the whole number. The rest is left to run and is closed at end of day for around 2R. Nice trending stock after a breakout.
EMR (gap up)
I missed the earlier entry in this one. But after the OR break we still look strong and 7th is a hammer like pullback to the ema. This is our long trigger.
Entry: 47.46 Stop=47.20
Fib Ext: 47.29 (so already past)
1R=47.72 2R=47.98 3R=48.24
We take partial near the whole number (just below 2R) and leave rest to run. This comes back to be stopped out at breakeven. Ok for some profits, but the much better entry would have been off 4th candle.
SPWR (gap up)
Strong initial price action breaks the OR before we come back on a retracement. The 7th is bullish and closes above the OR. The 8th is NR7 and confirms OR as support. This is our long trigger. (Maybe in hindsight not the best entry candle).
Entry: 96.93 Stop=96.40
Fib Ext: 98.56
1R=97.46 2R=97.99 3R=98.52
Bit too wild this one and we are stoped out for a loss shortly after.
Overall 3 trades and a profitable day, which is good and keeps up a relatively good month.
5 comments:
the LOD on the PB was laso a "Trader-x" 38.2% retrace from yesterday;s LOD to today's ORH.
that is a SOLID trade. congrats!
TR: beautiful trading as always. Looks like another great month for you. Congrats. Ralph
Traderam,
Why have you stopped posting your inital watchlist? I do not have IB and your list was very helpful because I am trying to learn your trading strategy.
Thanks for comments.
Anon : I haven't stopped posting my initial watchlist. I have always said that if I have time then I will post it. Recently I have been busy at work so I haven't been able to do so every day. If I'm late getting to the markets, then all my attention is focussed on my trading.
Also: You don't need IB to form a watchlist. Any good scanner can do it. Have you got a scanner ?
SPWR trade.
im wondering... when price impulse BOs above ORH and then the PB failry quickly breaks back below the ORH - im wondering if a reasonable target is generally gonna be the intraday HOD - essentially a move to a 2T... or it a trade is to wait and go counter-trend on a short. unlkess its a low-vol equity, im wondering if that action is indicative of a stock lacking jucie to get to the Fibbo extension?
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