Friday, 17 April 2009

Trades 17/Apr/2009

SPN (gap up)

Strong first then break past OR with sideways consolidation above OR support. The 4th is off OR and ema and closes strong. This is our long trigger. Had some momentum early on but never followed thru as it drifted sideways for rest of the day. Closed at end for minor gain.

NEM (fall thru previous day low)

Break of OR on 3rd is followed by shallow retrace back to OR and ema. The 7th is bounce off OR low and ema and is our short trigger. Fell nicely after entry. Closed partial at 2R near whole number and then rest at around $1 gain which was about 3R and also near Fib Ext.

ABT (Rise thru previous day high)

Uptrend past OR and entered on pullback 8th which closed strong off the ema and is also NR7 and NR3. Never got going after entry and we were stopped out for a loss.

Did have a couple of other orders but they never triggered.


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


Anonymous said...

Nice job on options expiration day. The morning looked very choppy and I discounted the whole day.

Josh said...

Can you gave me your expert opinion on trading PG b/o on 4th bar?

I liked it for the inside bar, and hammer like qualities. The prior bars upper tails were worrisome, but I felt if it had run it would have taken them out?. Also, I was leary of the whole # $52.00 acting as "strong"(?) resistance?.

Thanks, Josh

rudy said...

Hi TR,
NEM and ABT were both non-gappers. What is your criteria for scanning for non-gappers? Thanks.

TraderAm said...

A NR3 IB pullback on PG, so a reasonable setup. The risk factors are exactly as you describe i.e. prior bars wicks and closeness of $52. I've seen them work out ok though. It all depends if you had better looking setups elsewhere.

TraderAm said...


Same criteris as for gappers in terms of volume. They haven't gapped but are trading outside the previous day's range.