Monday, 2 February 2009

Trades 02/Feb/2009


MBT (gap down)

OR break and retrace back into OR. But couldn't hold it and breaks out again on 5th. The 6th is weak NR7 gravestone doji which rejects the OR and is off the ema. This is out short trigger. It got choppy with the market though and we covered partial a couple of candles later as it closed back inside the OR. Then it was sideways chop for rest of the day. Closed the remainder at end.

AVP (gap down)

Retraces gap down with strong price action initially. But then weakens as it can't hold the $20 level. The 5th is weak candle off the ema and closes weak near it's lows. This is our short trigger.
Almost got stopped out in sideways chop, but we got the fall we were looking for towards the end of the day and closed the whole position at 2R which was around the OR low and likely support.

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Anonymous said...

Great AVP trade!

QQQBall said...

AVP .382 traderX fibbo retrace from HOD yesterday to OHL low today

TraderAm said...

Thanks fir3ant.
Yes QQQBall, indeed it was. Must admit I didn't see that at the time.