AEM,AGU,AXP,BTU,C,CHK,CMA,ECA,ESV,FCX,GG,HK,IBN,JRCC,MEE,
MS,NFX,NUE,OXY,PBR,PHM,RCL,SPLS,SWN,TGT,TLM,WB,WMB,XTO,
ZION
JRCC (gap down)
First candle weak is followed by sideways action until the 4th breakout bar. We then trend down with the ema. The 8th is NR7, NR3 IB pullback candle with longish wick. This is our short trigger.
Entry: 37.19 Stop: 37.64
Fib: 36.03
1R=36.74 2R=36.29 3R=35.84
The price falls nicely as we pass 1R. However there is no follow thru and we are stopped out later for breakeven.
NUE (gap down)
First candle indecisive is followed by sideways action until the 5th breakout bar. This breaks the OR is near to ema and also closes weak below the $50 level. This is our short trigger.
Entry: 49.78 Stop: 50.21
Fib: 48.46
1R=49.35 2R=48.92 3R=48.49
The 6th candle higher wick is just a data spike as I was not stopped out. The candle closed back inside the OR. Normally I would close the position here. But the $50 level was a key factor as well and it only just closed above it. So I moved my stop closer to $50.05.
Maybe got some luck here as I did expect to be stopped out. The next candle then broke past the OR again and this time followed thru.
We trend down nicely with the ema and take partial near whole number which is also close to 2R. The rest is left to run and is closed at end of the day at the same level.
Overall two trades and a decent start to the month from the one winner. I did have an order for PHM but it never triggered.
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