Thursday, 30 July 2009

Trades 30/July/2009

WYNN (gap up)

Strong first then shallow pullback. The 6th is NR7 off OR high and ema and is our long trigger. Never got going and stopped out for a loss.

No other trades today. There were a few setups but the Fib Ext was too close, so I left them alone. Hope you had a good day.


Anonymous said...

why triggerhappy,,if you waited for an hr or so, this would have made you money

Addict said...

anon, that's easy to say in hindsight. Take a look at AMSC today, if you waited past 10am, you would've missed a 4 point move. Gotta stick to the plan, sometimes they work out sometimes they don't. There's a time to tweak the trading plan, but it's not during market hours.

TraderAm said...

Yes Addict, you pretty much said what I was going to say. Also, waiting for an hour or so would have made no difference to me as I don't normally trade a setup once it reverts back inside the OR range.

bl said...

Alot of these stocks are out of gas by 10-10:15. I can see why X likes the 10' charts(or even 5 ema if one wants to catch the momo off the open 5-15', wynn 2/5', amsc fire asia xray zeus). Then the retracement then rally bounce esp nice on 30' charts. Wynn 5/30' hammer/doji at 5ema and 5Fib

GD said...

Hi TraderAm:

Learning a lot from your trades. Your trades help me to analyzed chart whether your trade is successful or not. The important is I learn from them.

Charlie G. said...

I was looking at WYNN at the exact same time. I was hesitating a bit and missed a long entry near $50 and it bounced twenty cents pretty quick. The rest of my list was stalling too so there some reason for my doubt in the set up along with some potential resistance on the daily chart from May and longer term.

However, buying at a pull-back to the 15 minute opening range (which I use) at a whole number like that on a bullish market day on a stock that gapped up is a high probability set-up. It looked like $50 was going to hold but when it didn't, it dropped quickly.