A,ADS, ALV,BEAT,BP,CEG,CHK,ESV,FRO,HMC,JACK,RCI,
TDW,TM,UPL,VMI,WAT
One of those days, where got chopped around. Overall a losing day.
RCI (gap down)
Gap down then retrace up to ema resistance. The 4th is weak doji and 5th is confirming weakness as it closes weak. This was our short trigger. The market strengthed subsequently, so I scaled out of partial and left the rest to run. It just went sideways for rest of the day, and I closed the rest at breakeven in the final session.
JACK (gap down)
Weak first and 2nd is right at end of the first with weak looking upper wick. Short on a 2 bar break. A bit of a riskier setup than normal, so didn't use full position size. Scaled out as it closed back above the OR.
FRO (gap down)
Gap down then OR break on 2nd. We get a retrace but 5th rejects the OR. The 6th is NR7 off the ema and is our short trigger. Initially it looked good, but then stopped out on the 8th.
-------Fib and RValues --------------------
------Trades--------------------------------
1 comment:
IMO, 3 red bars with a hammer 3rd is ready for a reversal
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