Aug 21, 2007

ASN - Long

Today I found a lot of quick strikes and I was either along for the short ride or I missed out. Overall, I thought today's action was very strange. Here's my ASN trade:

  • Placed fibs. from first bar high to low
  • Watched price creep back up and above the 50% level
  • I thought price was going to reverse after seeing that spinning top at the 10:05 candle, but it didn't
  • Price resumed its orderly rise to just above the 61.8% fib. level
  • Entered on a break of a nice hammer high on increased volume
  • Price soared past the fib. ext. and I was getting ready to cash out as I figured was going to come down
  • Sold all shares at the fib. ext (felt fortunate, really)


4 comments:

Dave said...

I made the same trade in ASN, OONR7. The action was strange. You made out a bit better than I did.

Good job.

Here's my trade.

bl said...

Another nr7 Fib style. Great! Looks like the naz double bottomed at 10:20 and took off with all the generals kicking butt. I missed that rally for the most part.

Flatwallet said...

Beauty...I looked at it and knew that was going to be a winner but it didn't meet my current rules...so I chose other ones that didn't meet my rules :)

Hey noticed that the sharts don't show up on IE. Weird

OONR7 said...

fw... just fixed it. IE is such a POS!!