Thursday, 18 June 2009

Trades 18/June/2009

EXC (gap up)

Trend up with ema past OR. Waited for it to clear $50 and the Fib Ext. The 10th is hammer like off ema and closing strong. This is our long trigger. Looked good for a while but didn't have the strength to get to 1R. Came back down later to stop us out for a loss.

HPT (gap down)

Narrow candle price action at the OR low as it catches the ema and trends past the OR. The 8th is off the ema and closes weak as it breaks the OR. This is our short trigger. Didn't really do much for rest of the day as it went sideways. Closed out at end of the day at around the 1R level.

PAAS (fall thru prev day low)

Bearish first is followed by sideways consolidation at low end of the OR and rejection of previous day low. The 4th is bearish off the ema and breaks OR. This is our short trigger. Closed partial around the whole number Fib Ext level and left rest to run. This was closed at end of day around 3R level as it weakened into the close.

I did have a few other orders, but they never triggered and other setups were too close to Fib Ext so I left them alone. Hope you had a good day.

------Daily Stats ----------------------------

2 comments:

Joe said...

TraderAm

Firstly - fantastic blog! Thank you for sharing your knowledge. WRT the PAAS trade, how did you resist the temptation to go short on the 3-15 bar when it broke the ORL?

JT

TraderAm said...

JT.

Glad you like the blog.
The 3rd candle on PAAS was just an ordinary red candle IMO. Not enough to justify it as a trigger. The 4th was more bearish, a NR7 and also closed weak with longer upper tail.

Thanks.