ADI,AMX,APC,BHP,BTU,CHK,CNX,DE,DRS,EBAY,ECA,
FCX,HAL,IBN,KO,LLTC,MBT,MRO,NE,PBR,SU,UBS,WFT
BTU (gap down)
Weak first then sideways until 4th breaks the OR. The 6th is NR3 IB pullback off the ema and is our short trigger.
Entry: 26.62 Stop: 27.55
Fib Ext: 23.89
1R=25.69 2R=24.76 3R=23.83
We try to go down, but support is found and stock recovers to stop us out for a loss.
PBR (gap down)
Red first and we trend down with the ema and break the OR on the 3rd. The 5th is a Nr3 IB pullback to the ema that we are looking for. This is our short trigger.
Entry: 27.76 Stop: 28.55
Fib Ext: 26.64
1R=26.97 2R=26.18 3R=25.39
The next candle is promising and we take partial at 1R (whole number close) and leave the rest to run. This is stopped out at breakeven.
WFT (gap down)
Red first and we trend down with the ema and break the OR on the 4th. The 5th is a bearish red inverted hammer type candle off the ema and OR. This is our short trigger.
Entry: 14.06 Stop: 14.73
Fib Ext: 13.00
1R=13.39 2R=12.72 3R=12.05
The next candle is promising as we fall further. But that is as far as it goes and the whole number holds. I moved my stop to 14.40 and 14.60 once the whole number held, so we didn't get stopped out for full 1R loss.
The entry near the whole number was a bit riskier, but the previous price action and market being weak made it worth a try IMO.
Just three trades and overall a losing day. A bit of a shame really as all three stocks after retracing strongly then fall big time into the close. I am kind of looking at this sort of price action to refine my technique somewhat. I don't want to tinker too much with it though as I'm on for a very good year, so for now we'll see how it goes. I can't get into IB at the moment as I can't find my token, so will post trades screenshot later.
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