Friday, 22 January 2010

Trades 22/Jan/2010

JCI (gap up)

Gap down then fall before we find support at the previous day high which is tested by both the 3rd and 4th candles. The 4th is hammer like doji and is our long trigger. Both these candles also closed above the $30 level, which was a factor in my decision to take this setup. Closed partial at 1R then rest came back to breakeven.

Couldn't really find any short setups which I liked but I'd imagine most would have done ok considering the big fall in last session. That is three consecutive days of big falls in the market. Haven't seen that for a while. Anyway hope you did well today and have good weekend.

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PRD trader said...

Hi AM,How its going?Its good too see your nice chart layout.

TraderAm said...

Yes going ok PRD, shouldbe an interesting year.