LDK (gap down)
First candle weak followed by weak 2nd which stays in botton 1/3rd of OR. This price action coupled with downturn in market is our trigger for short entry on the 3rd candle.
Entry: 14.88 Stop: 15.25
Fib Ext: 13.62
1R=14.51 2R=14.14 3R=13.77
The price moves down nicely after entry as the market weakens. We take partial at 2R and leave the rest to run. This is closed at end of the day for around 4.5R.
PBR (gap down)
After gap down the first two candles are weak and also weak relative to the market. This price action coupled with market turning down is our entry trigger for a short on the 3rd candle.
Entry: 23.40 Stop: 23.80
Fib Ext: 21.94
1R=23.00 2R=22.60 3R=22.20
The price moves down nicely after entry as the market weakens and it trends down with the ema. We take partial at 2R and leave the rest to run. This is closed at end of the day for 4R.
Overall two trades with good profits. Shorting on market weakness would have paid dividends today, pretty much on any stock chosen.