After gap up , a move up then retrace to ema and bounce off OR high. The 7th is NR7 off ema and is our long trigger. Closed partial at 2R (near Fib Ext) and then rest at end of day at 1R.
No other trades for me today. A lot of the gappers moved strong early on and had already got near the Fib Ext. So if you were trading the smaller timeframes it would have paid off. I'm away for long weekend, so I probably won't be trading until Wed of next week.
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3 comments:
This is a news driven market...Mr B's speech at 7 drove the market higher after gap ups of many. Someting to keep alert about esp if one has a steady WL, imo.
Good one - just wonderng how you decided on this particular stop of 44.08. My stops have generally been a little widerer. I apologize if you've answered this type of queston before. Thanks.
Adrian in Omaha
Stop is typically 5c beyond the trigger candle.
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