JAKK - Short
Today was a short day... literally. I had things to do around 11:45am U.S. time so I was hoping to get in and out quickly. Here are the facts on JAKK (10-min):
- Placed fibs. from 1st bar low to high
- After a strong push to the OR low during the 10:00 candle, price retraced back to the 50% level... this is when I started looking for an entry
- Entered short below the 10:40 candle after it closed strong on increased volume
- Price fell fairly quickly to the fib. ext. and I had to choose whether to hold the trade till late in the day (with a trailing stop or something) or take profit at the fib. ext.
- I decided to take profit at the fib. ext. (as you can see, price dropped even further)
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4 comments:
nice trade...
I like the trade to hit my target, other than using a trailing stop and let it stop out eventually.
-DT
Way to go nr7 on the fibs and WRB. AMZN had a nice 1 min chart at the open. Ihave a new screen: most points up nazdaq: 19/31 were over $40 from Scottrade's Best Point Performers, and newsy stocks like amzn today. Looks like appl Thrs Nothing fancy...no long lists like I have been doing with poor results.
Forgot...Get some sleep!
dt... don't understand your comment. You like the trade to hit your target and then you use a trailing stop?
Also, I was looking at an old comment you made about a homemade scanning script for IB. Are you still using it and would you be willing to share the details?
bl: I don't know what I'd do without the fibs. I've had a number of revealations during my fairly short trading career and one of them occured when I reviewed the new materials from tradethemove.com. It just all clicked after that.
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