INFY (gap up)
Green first followed by shallow pullback then OR break on 4th. Then another sideways pullback to ema with 7th being off ema and a NR7. This is our long trigger. Nice candle after entry and we closed partial at 1R since Fib Ext was fairly close. Subsequently nothing much happened and we came back to breakeven.
I did have a couple of other orders, but they never triggered. And declined a few trades due to Fib Ext being too close.
--------Fib Ext and Rvalues -----------------
---------Trades---------------------------
4 comments:
Hi AM, I'd like to hear your opinion about AET off the 8th. After the gap + moved down, I've waited for the stock to pb - which it did. It bounced off the ma with a nice candle, but stopped me out later...
Thx
iamatrader2.
Reasonable trade in my view. The market was strong though so shorts would have been difficult today. Having said that PNRA which was similiar setup to your AET would have been a profitable trade.
There is a continuous buyer at 22.10 for a long time, you definitely would find it if you noticed the level ii. I have to say this AET was driven by the whole market afterward.
I indeed noticed this 22.10 buyer, but the fact is that later the day - it didn't prevent the stock to go even below 22 for a while...
Pity it happened only after I was stopped out :(
I guess that what AM said about a difficult day for shorts is the most important thing. If instead of an up 200 + pts day we've had a down one, everything would be so different...
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