AAUK,AGU,AZ,BBD,BIIB,BP,DRYS,LVS,NKE,QLGC,
REP,RHT, RIO,SQNM,SVVS,SWN,UBS
AGU (gap down)
First candle is red and stays below previous day's low. After that it is weakness all the way as we fall below the OR. The 4th is a NR3 pullback which is off the ema and the OR. This is our short trigger.
Entry: 75.10 Stop: 76.10
Fib Ext: 73.92
1R=74.10 2R=73.10 3R=72.10
We fall pretty fast after entry and take partial at 1R (also a $1 gain) since we are close to whole number and the Fib is not too far away either. The rest doesn't follow thru and comes back for breakeven.
Other than this trade, I did have a long order for BIIB but that never triggered.
11 comments:
Traderam,
Can you pls. explain how you use fib. retracements and fib. extensions in your trading? I am trying to learn your trading strategies?
Would you have entered NKE, TSN today? If yes, where, if not why - after it consoldiated to the 5 EMA on 15 min. chart?
Thanks in advance,
Thomas
thomas.
The Fib Ext I use is same as TraderX. So for example > using longs > Taking first point as previous days low, 2nd point as current days OR high on 15min chart.Then projected 1.382 from these two levels.
Fib Retracements, I don't tend to use.
NKE > Was a nice consolidation pattern at top end of OR. I didn't really see a trade on it on the 15min chart early on. The 9th candle is possible entry, but the fact that it was red made me hesitate. After that it was too late as the price rose strongly.
TSN > Not on my list. Even if it had been, that first candle would have put me off making any sort of trade on this stock.
Thanks.
a bucks's a buck - its not a GBP, but it is a buck.
nice one.
Thanks traderam.
Traderam,
Would you regard the hammer candle on FINL chart at 13:45 as bearish or bullish on Sept. 26?
Would you have entered the trade at that point?
Will appreciate your reply.
thomas.
Don't see a hammer candle. Let me know which candle number (e.g. 5th, 6th etc) as timezones are different. And which date ?
Thanks
17th candle on the 15 min of FINL. chart. Date 9/26. Would you treat that candle as a bullish or bearish candle?
thomas.
I would treat it as bearish. Based on my strategy though, I would not have traded this stock at all.
Thanks
Reasons for not entering the trade?
thomas.
Reason 1 : It is trading inside yesterdays hi-lo range.
Reason 2 : I don't trade stocks priced at less than $15
Reason 3 : I don't enter a trade at that time of day
Reason 4: It has already fallen a significant distance from the oR low.
I guessed the first 3 reasons as soon as I hit enter in the comment section.
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