Big cojones trade
I'm sure most of you go back after trading hours and look over charts and find one stock that really took off but presented an entry point that required you to have a set of big cojones. That trade for me today was ROLL. It was on my watchlist but I just wasn't feelin' the countergap groove. I didn't take the trade, but here's my analysis if I did:
- Placed fib. levels from first bar high to 7th bar low
- Price retraced strongly back up and through the 61.8% level
- There was a perfect entry bar on the 10:35 candle (hammerish) which also had increased volume
- Using the Trader X exit strategy, you could've stayed in this one all the way up to the 12:45 candle
- That's a $3.7 move or 19R - yes, 19R
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5 comments:
I watched it all day! It was nice too, looking to close that gap. But no super large cojones here(not too mention that I saw it after 11:00. I could have gotten in on the test of the break of the ORH, but no. Instead I took one that didn't provide much movement at all(bow). Hind site, ya know, it's a B####!
Bigfish
And back in again(bow) this morning on break of the 1st candle. Sorry, hope I'm not cluttering posts.
Bigfish
considering you're the the only posts... fire away!!!
Hope BOW works for you. I just sold FCX and missed the CROX dive, but it was on my shortlist - DAMN!
Bummer, hopefully you squeeked out some on fcx. Bow just got over my projected point and reversed. Got out with pretty good profit. I was looking for it to run back up to the wide ORH of 2 days ago. But I really wish that I would have played "MIND" instead. Had a great run since the gap this morning and still running. Can't complain as long as some profit is happening!
Bigfish
nice trade with BOW. I agree... a profitable day, no matter how much, is a very good day. If the majority of your trades are making money it all adds up and every once in a while you catch a runner that makes your week.
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