AAPL,APC,ACI,AEM,APC,AXP,BA,BHP,BP,BRCM,BTU,
CHK,DRYS,FCX,FRO,GG,HK,KBR,MRO,MT,NE,OXY,VMW
Messed up a bit early on lack of focus due to other things going on. But had a further go later when market took another downturn.
APC (gap down)
Straight forward downtrend before we come back towards the ema. The 9th is red weak candle off the ema. This was my trigger candle to watch the price action. My actual entry was during the next bar and based on general market direction.
Entry: 30.55 Stop: 31.05
Fib Ext: 30.53 (so not applicable)
1R=30.05 2R=29.55 3R=29.05
The price move nicely down with the ema. We take partial at $1 gain (around 2R) and leave rest to run. This was closed towards end of day at $2 gain (around 3.5R).
FCX (gap down)
Straight forward downtrend before we come back towards the ema. The 4th is off the OR and weakish. The 5th was trigger for my first entry and base don market direction. This did not work out however and was stopped out on next candle for a loss.
The stock stays weak however below the ema. The 9th is a gravestone typish doji and is our trigger for second entry short. Both entries were again based on general market direction.
Entry: 29.33 Stop: 29.70 (stopped out)
Entry: 29.21 Stop: 29.90 (2nd entry)
Fib Ext: 28.11
1R=28.52 2R=27.83 3R=27.14
The price move nicely down with the ema. We take partial at Fib Ext (around 1.5R) and leave rest to run. This was closed towards end of day at 26.50 gain (around 4R).
NE (gap down)
Straight forward downtrend before we come back towards the ema. The 5th is IB NR3 pullback candle. This was my trigger candle to watch the price action and market direction.
Entry: 26.80 Stop: 27.10
Fib Ext: 25.77
1R=26.50 2R=26.20 3R=25.90
I messed my trade management up on this. Took partial at 1R, but forgot to move my stop to breakeven. Realised it a bit later, so then closed out manually. There were a couple of other opportunities later in the downtrend, but I was still managing other trades, so didn't catch them.
Overall a good day, despite some problems early on.
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