ABB,ACAS,BAC,C,CHK,DUK,HMC,INFY,KBR,L,LM,LVS,MER,
MT,NWL,PHG,PWE,PWR,SNE,TEX,UBS,WMB
PHG (gap down)
First candle weak as it fails to hold the $20 level. We then fall thru OR and consoldiate sideways towards the ema. The 4th is NR7 pullback and is our short trigger.
Entry: 19.54 Stop:19.81
Fib Ext: 18.81
1R=19.27 2R=19.00 3R=18.73
There was a fall initially but then the stock recovered sharply and we are stopped out for a loss. People may question the wisdom of shorting when the market is up 300+ points..but there you go.
TEX (gap up)
We retrace after the gapup, but the previous day's low holds and we trend back up with the ema. The 7th breaks the OR. The 8th holds the OR and closes above it. The 9th is bullish green which is off the OR and ema and closes strong. This is our long trigger.
Entry: 22.17 Stop:21.55
Fib Ext: 23.40
1R=22.79 2R=23.41 3R=24.03
We don't do much after entry and just drift sideways, not reaching the 1R level. However there is a nice rally at end of the day and we close there for a $1 gain. (Just above 1R).
Just the two trades on shares today. There was a lot of gappers up, so it was hard work trying to whittle them down. Consequently I may well have missed some good long entries as the market finished up very strong.
Something else I have been working on is trading the Dow. It is based on multi-timeframe analysis and trading off the 1 min chart price action. Have tried paper trading for a while, and started with small position size today for real. Not sure yet whether I will be doing this every day though.
2 comments:
i enter atvi for long
8 bar (nr7)wos the treger ,above 12.91 good ran
and one short cbs ander the 4 bar (nr4)=smol win
TR: you had wondered aloud as to where the market bottom was. Here is my 2 cents per william o'neil: The market bottoms' after making a lower low, watch the next 4-7 days for the market to gain +2% on vol greater than the prior day. Hope this helps. Ralph
Post a Comment