BTU (gap up)
Bullish first candle as we confirm gap up by closing above previous day's high. The 2nd bar is narrow range and stays above OR. This is our trigger for a long when market turned up.
Entry: 24.37 Stop: 23.85
Fib Ext: 25.27
1R=24.89 2R=25.41 3R=25.93
We take partial at 1R (near whole number) and leave rest to run. This is stopped out at breakeven as stock comes back to entry. Overall +0.5R.
RIG (gap up)
Bullish first candle. The 2nd bar is narrow range and stays in top 1/3rd of OR. This price action is bullish relative to the market and we go long on market upturn as the OR breaks.
Entry: 57.31 Stop: 56.97
Fib Ext: 58.73
1R=57.64 2R=57.99 3R=58.33
We take partial at 1R and leave rest to run. This is stopped out at breakeven as stock comes back to entry after failing to hold the OR breakout. Overall +0.5R.
Just the two trades to day for overall +1R. Couldn't find another entry that I liked as the market was chopping around quite a bit.
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