Wednesday, 15 April 2009

Trades 15/Apr/2009

A bit of a choppy today, so couldn't find much that followed thru.

GILD (gap down)

Bearish first then retrace followed by further weakness as it crosses oR again. The 7th is bearish gravestone doji off ema and NR7 IB. This is our short trigger. Never worked out and stopped for loss.

CHL (gap up)

Gap up is followed by strength in first two candles. The 4th is NR3 pullback and is our long trigger. Trends up nicely after entry and we take partial at 2R just before the Fib Ext. The rest is closed at end of day also at 2R.

BTU (gap down)

This was a sub-par setup in terms of risk-reward, as the FIB Ext was too close to really make it worthwhile. The entry was off the NR3 pullback on 4th candle. I have seen these blow past the Fib Ext but in this case it bounced up and so I closed at around breakeven. Maybe on reflection, it isn't worth taking these and instead spending more effort on finding better setups.

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


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