Apr 11, 2008

HLF - Short

I have an event this evening so couldn't really trade too late. I found a nice short entry in HLF off the 10-min chart (10:30 bar low). This was a prototype 'retrace and reversal' trade with a two bar move to the ORL followed by a nice down bar on my entry. My exit was a bit hurried (again, the event tonight) so I decided to bail just above $45 (11:10 bar) which was a good decision at the time as price bounced at that point.
 
Anyway... have a good weekend.
 

4 comments:

PitBull said...

hi, nice trade!
I have 2 questions though:
1) is your entry is off the 7th bar (meaning, you enter when it breaks below the low of the 7th?)
2) What did you use for stop?

Thx a lot!

OONR7 said...

pitbull: yes, entered on a break of the 7th bar low and placed my stop 2 cents above the high of this candle as well.

Anonymous said...

Ok, I always seems to get confused if the bar you point to is where you entered. I'm guessing this is considered your "entry" bar as when the low of this bar is broken you enter.

Correct?

OONR7 said...

anon: you're right. I point to the entry in all my charts. I usually write in the blog which bar I entered and exited as well.