Monday, 20 July 2009

Trades 20/July/2009

ABX (gap up)

After gap up, we get a 50% Fib retracement and a bullish hammer candle. This 6th is our long trigger. Took partial at 1R then rest was closed in last session at around 1.5R.

AET (fall thru prev day low)

Fall thru OR on 3rd. We recover on the 4th, but this is offset by 5th. The 8th is off the OR low and price was lookiing weak relative to market. This 8th was our short trigger. Closed partial at 1R as Fib Ext was here then rest came back to breakeven.

PWRD (gap up)

Bullish first then trend up past ema. The 5th is NR3 pullback off OR high and is our long trigger. A bit wild this one as we got to 1R but then reversed sharply. I had moved my stop to breakeven, but got hit a bit with slippage so it was actually a loss.

No other trades for me. Hope you had a good day.

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Anonymous said...

Hi TraderAm,

When you take a partial, do you sell 50%, or what percentage do you partial, thanks Hector

Kat Bay said...

Hey Am.

You sure pick them well. I was watching ABX and GLD and decided to go with GLD because of the smoother decline. But ABX did better in the end.

Always a pleasure reading your blog.


Anonymous said...

i shorted QDEL 3 bar -its gap down ,narrow bar,out of OR,and re test the OR.
why it didnt work?

TraderAm said...

Partial is always 50%.

TraderAm said...

Thanks Kat.

GLD was good set up as well. I didn't have that on my list.

Did you have a look at BBBY and PCU ? they worked out well. Always easy in hindsight though.

TraderAm said...


QDEL first candle volume is < 150k. The Fib Ext was too close to make the R/R worth taking IMO. The whole number was also close by.

The above factors would have prevented me taking that trade.