Thursday, 6 August 2009

Trades 06/Aug/2009

STEC (gap down)

Weak first and OR break on 2nd. Then shallow retrace to OR low and ema. The 5th is part of this pullback and a red NR7 hanging man. This is our short trigger. Went sideways for a while before falling i our favour. Closed partial just past 1R as $30 was nearby. The second half closed at the fib Ext for around 4.5R.

WFMI (fall thru prev day low)

Weak initial price action and 3rd is NR3 off OR low. This is our short trigger. Looked good initially as it got to 1R but then bounced back to stop us out at breakeven.

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