Chopped up
Took PNRA twice and SPWR with very little to be happy about today. Hope we get back to normal tomorrow.
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6 comments:
I took a trade on V that did not work out either so I called it a day before noon. Cheers,
Would you mind posting your PNRA trades? Even if it didn't work out it would be nice to see. Thanks.
anon: my first trade in PRNA was off the 10-min chart (5th bar). It was part of a 2 inside bar setup and an nr7 right below the ORH. Price took off upon entry and just as I was thinking I nailed it... price dropped and stopped me out. Hate those shocker trades. But... off the 5-min chart I enter long on a break of the 10:20 bar which was a hammer like bar right above the ORH. Things looked good and was working my way to breakeven for the trade but then price spiked back down again after I revised my stop based off the 15-min timeframe (below the 11am low). Maybe I moved my stop too soon... or price hadn't spiked enough below the 5ema to move it, but I didn't want to risk losing a full R twice on this trade. Just choppy all around. I still like my setups.
anon: in hindsight... my first entry on PRNA (10-min) had one major flaw which I didn't notice till now - my entry was much further away from the 5ema than what I would like. I caught caught up in the fact it was an nr7 with severely low volume that I overlooked where the 5ema was at the time. Plus, I was also monitoring the 5-min chart too (which was butt up against the 5ema at the time). Oh well, hope I'm aware the next time.
WTF? Can't seem to backfill PNRA through IB. Anyone else having this problem?
Nevermind, got it to work.
Anyway, I definately like the first entry. Like you said though, the 5 ema is quite far away. I passed on that on the 15 min chart for that exact reason. On the 15min there was a nice IB aligning at the top of the ORH.
Shitty when those spikes occur.
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