AAUK,AGU,ASML,BHP,BTU,CMG,CNX,CX,DIOD,ERTS,FCX,FTO,
FWLT,GME,GSK,LDK,LULU,MER,MOS,PBR,PCU,PNRA,TLM,TSO,VLO
Difficult day today as it was choppy. Sept is being tougher than Aug at the moment which has surprised me somewhat. Anyway pleased that I managed a profit day today.
FWLT (gap up)
First candle is strong and we move above the OR on the 3rd. We then have a retracement back to OR in next few candles. The 6th is bullish off the ema and the OR and also closing strong. This is our long trigger.
Entry: 41.65 Stop: 41.00
Fib Ext: 43.82
1R=42.30 2R=42.95 3R=43.60
There is some nice strength after entry and we look promising as it goes past 1R. However we stall here and retrace strongly to stop out at breakeven.
VLO (gap up)
First candle is indecisive, but we break the OR on the 3rd and 4th candles. The 5th is strong bullish off the ema and the OR and also closes strong. This is our long trigger.
Entry: 35.42 Stop: 34.70
Fib Ext: 36.39
1R=36.14 2R=36.86 3R=37.58
The price trends up nicely in our favour as we get past 1R. However the whole number at $36.00 was proving difficult, so exited half here and left the rest to run. Subsequently it really didn't do much, just went sideways. Closed towards the end of day for around 1R.
So, just two trades today. Due to work interruptions, looks like I missed a couple of good entries in AAUK and LULU. Overall though a profitable day, even though not any big gainers.
5 comments:
Hi Again TraderAM,
thanks for your answer from previous post. Regarding this day's position:
I don't quite understand when you enter the trade on fwlt, is it after the 6th candle meaniing at the beginning of the 7th candle. Also since the 3rd candle penetrated the OR high, how did you know not to enter the 4th candle. I guess what I'm asking is I am really confused on when you enter, at the end of the triggering candle formation or right after that, at the beginning of the next candle?
Thanks,
Elad.
The 6th is my trigger candle. So I enter on the 7th when the 6th bar high is exceeded.
The 3rd candle was too wide IMO to be a good trigger, the stop would have been too wide.
Thanks
nice trading... I was a tad late to FWLT
what is your manth target in R s"
Thanks oonr7.
Anon > I don't have a set target, just take what the market gives me. See my performance table for past results.
Thanks
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