Thursday 22 July 2010

Trades 22/July/2010

MT (gap up)

Trending up after the gap. Entry on break of horizontal resistance. Closed partial at 1R then rest in last session for around 0.5R.

PCAR (move up thru prev day high)

Trending up and strong relative to market. Entry on break of horizontal resistance. Didn't work out and stopped for a loss.

WDC (move doen thru prev day low)

Move down showing weakness relative to market. Entry on pullback as market weakened further. This was a bit tight on the risk/reward as the prior low was less than 1R away. But worked out ok. Closed whole position for 1R since I was shorting against the general market.

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