Monday, 23 February 2009

Trades 23/Feb/2009


GRMN (gap up)

Strong price action despite weak market. Moves above OR on 4th and retains it on 5th. The 5th is NR3 off OR high confirming it as support. This is our long trigger.
Looked good initially, but couldn't sustain it's momentum. I scaled out of partial after the 7th candle which was weak despite the market bouncing. The rest was stopped out at original stop.

UNH (gap down)

Standard gap play. Break of OR then consolidation beneath with OR low and ema providing resistance. The 5th is NR3 pullback and is our short trigger. Took partial at 1R as it was near whole number and Fib Ext region. The rest was run until end of day and closed at 2R.

----------Fib and RValues

-----Trades ------------------------------


OONR7 said...

nice UNH trade. I kept looking and looking but the lower tails scared me off.

TraderAm said...

thanks 00nr7.

Yes, I know what you mean. I did the same with HUM, just kept watching it go down.....

At the time of my entries if u had asked me > I would have said that GRMN had a better chance than UNH of being the winning trade. That's trading for you.