Wednesday, 14 July 2010

Trades 14/July/2010

ADI (Move up thru prev day high)

Despite gap up stock is weak relative to market and falls back down thru prev day high. The trigger candle is red weak after fall thru the $30 level. The r/r on this trade wasn't the best as the prev day low was in the same area and potential support area. So moved stop to breakeven after the green hammer (18th candle). This was hit a few bars later.

SUN (gap down)

Weak price action relative to the market. Entered short on breakout of horizontal support after strong trend down from prev day low. Closed at +1R.

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1 comment:

Anonymous said...

Dont you think on ADI the move was a bit extended when you entered rather than having a little bit of consolidation and then entering -kinda like the 1840 candle and consolidation before that on ADI