IVZ (Fall thru prev day low)
After weak first we get a retrace but then a rejection of the previous day's low on the next two candles. The 4th is a NR7 OR breakout which is off the ema and closes weak. This is my short trigger. I haven't traded OR breakouts much recently due to lack of consistency, so perhaps a bit of a forced trade since not much else was going on. The 4th candle didn't look good and then we get a retrace back to the OR. As it moved up I was pretty much resigned for it to be stopped out so just left it. When I logged on later, was pleasantly surprised to see a 2R profit. It came within 1c of stop out and then came back down to close near Fib Ext and also at 3R. I have to admit this was lucky...so any anon posters to this effect....I fully agree.
Anyway, not much else to trade that I could see. Hope you had a good day.
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1 comment:
I did not find anything either except CEO. I am paper trading at this point so paper-traded CEO. I was worried it was riding rather than breaking through R2 pivot but I liked the setup. It fell and touched fib target.
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