Trades 29/Jan/2010

CHKP (gap down)

Bearish first then trend down past OR. The pullback occurs on 4th and 5th. The latter is weak off ema and closes weak. This is our short trigger. Closed partial at 1R as we approached the Fib Ext. Then closed rest at end of day at around 2R

ESI (fall thru prev day low)

Bearish first then sideways consolidation at OR lows. The 5th is an IB NR bar pullback below the OR and is our short trigger. Closed partial at 1R then rest at whole number at around 4R.
So a pretty decent profit on this overall.

A quick note on ESI. It is worth saying that I did not manage this very well. I was too concerned with the $100 level, but the price didn't really respect that. If I had followed my normal rules (exit near Fib Ext and then rest at end of day e.g. same as CHKP) I would have had close to 8R gain on this short. I'm not saying that this exit approach is the best way forward, rather I am saying, have your plan and stick to it in all cases. Let that be a lesson to you all....lol.

No other trades. Hope you had a good one.

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Trades 28/Jan/2010

PG (gap up)

Bullish first then pullback to ema with multiple candle support. The 5th is NR7 pullback to ema and is our long trigger. Looked good briefly and almost made it to 1R but then came back down sharply and stopped out for a loss.

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Trades 26/Jan/2010

HUM (fall thru prev day low)

Bearish first then after fall thru prev day low we retrace and bounce off OR low. The 6th is red off OR low and ema and is our short trigger. Not the best entry candle in the world, but worth a shot. Chopped around after entry then finally fell with market. Closed partial at 1R near whole number then rest came back to breakeven.

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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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Trades 21/Jan/2010

Didn't get to the market until an hour after open due to work meetings. By which time the market had tanked and blown past most of the Fib Exts. Couldn't find a setup to trade after that and so no trades for me today. Hope you had a good one.

Trades 20/Jan/2010

GNK (gap down)

Bearish price action over first few candles then retrace to ema. The 6th is red NR7 closing weak off ema pullback. This is our short trigger. Closed partial at 1R near Fib Ext and then rest at 3R near whole number.

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Trades 15/Jan/2010

T (move thru prev day low)

Bearish first then after initial move down we get retrace and test of OR from below on the 9th. This is bearish with upper tail and closes weak below ema. This is our short trigger. Didn't really go anywhere for rest of the day. Closed in last session for minor loss.

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Trades 13/Jan/2010

NOC (gap up)

Bullish first then shallow retrace at top end of the OR. The 5th is NR7 inside bar following the OR breakout on the 4th. Came within 1c of getting stopped out, but the OR held and it rose as the market gained strength during the day. Closed at 2R in last session near the Fib Ext.

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Trades 12/Jan/2010

IBN (gap down)

Gap down then weak price action relative to market as it comes down to the ema. The 6th is NR7 OR breakout off ema and closes weak. This is our short trigger. Looked good after entry as it got to 1R. I was looking to take partial at 2R near whole number as Fib Ext was still a decent distance away, but after 1R it came back and stopped me at breakeven. Bit of a shame as it then resumed it's fall down to whole number. It happens.

No other trades for me today. The one that got away was ATI, I was just too late getting my order in and it fell too fast past my entry (short off the 4th candle). Anyway, hope you had a good day trading.

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Trades 11/Jan/2010

AZN (gap up)

Gap up and sideways consolidation showing relative strength to the market. The 4th is green bullish OR breakout bar and is our long trigger. Closed partial at 1R then rest was closed at end of day in last session.

BP (gap up)

Gap up and sideways consolidation showing relative strength to the market. The 4th is green bullish OR breakout bar and is our long trigger. Closed partial at 1R then rest came back to breakeven.

No other trades for me today, hope you had a good day trading. In the stats below I have counted AZN as +0.5R, it was a bit less than this, but just to keep the numbers rounded. I tend to even it out over the month.

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Trades 07/Jan/2010

GRMN (gap down)

Bearish first two candles as it falls thru OR low. Then a shallow retracement to test the oR low as resistance. The 7th is NR3, NR7 off OR low and ema and closing weak. This is our short trigger. Closed partial at 2R near Fib Ext and then rest came back to stop at breakeven.

No other trades for me today. ANF short didn't trigger and a couple of others were too close to Fib Ext. Hope you had a good day.

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Trades 05/Jan/2010

Oh Blimey...more and more snow. If you are in the US or any other country used to snow, you are probably wondering what all the fuss is about. But here, anything more than a few inches and it is utter chaos as we are just not used to it and the infrastructure is not really in place to handle it efficiently. Worst winter so far in 30 years and no signs of it ending any time soon.

Anyway, on to trading.

V (gap down)

Trend down then pullback to ema with NR7 doji. Fell nicely after entry and closed partial at 2R near Fib Ext and whole number. The rest was left to run but came back to stop at breakeven.

No other trades for me. Hope you had a good one.

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