Jul 4, 2007

I hope you caught these...

I tell ya... trading sure is easy when you look at charts at the end of the day and pick the perfect entries :)

So, I'm on vacation this week but I'm still running my scans to see what I would've missed (pure torture). Here are a couple of stocks that came up on 7/3:

ACH - Long, 15-min

  • Placed fibs from low to high of the first bar
  • Price retraced and leveled off at the 38% level
  • The 10:30 bar formed a perfect candle at the 38% level. This is where you have to weigh the risk as price was still a bit far away from the 5ema (at least for my tastes).
  • There wasn't a real exit point so I think I would've exited close to end of day

ACAS - Long, 5-min
  • Placed fibs from first bar high to second bar low
  • Priced retraced back up to the 61.8% level then fell back down (looking like resistance)
  • From 10:10 - 10:25, price retraced back down to the 50% level
  • 10:25 bar burst back up and through the 61.8% level on increased volume (more than 1.25x the previous bar)
  • I would've entered of a break of the 10:25 bar high
  • I would've exited off somewhere around the 11:50 area


Jerry said...

You are right. All look so easy. Have a great vacation@

Anonymous said...

July 5th

you, hindsight is 20/20, but thats one thing X always stressed, was chart review.

Hit AEM on the 15 min bar that closed above 38.43. 39.15 was 1.382 extension - out at 39.08. low stress trade - never really shook back and continued above the fibbo projection.