Jun 17, 2008

RIO, NFX - Long

Feels good to finally post some decent results. This was my first day back to monitoring just the :15 charts and I hope every day is like this. While nothing spectacular... the trades I took produced the desired results and I exited exactly where I wanted with no regrets.
 
RIO

 
Entered off a break of the 10:30 bar high which closed very strong and above the R2 level. I knew this wouldn't be a huge gainer if it just tagged the fib. ext. but I didn't want to let it go just because it wasn't going to make a ton of dough. I just need to get back to profitability. Anyway, I exited all my shares just below the fib. ext.




 
NFX
 
After a nice first candle and a strong push up, NFX presented a nice opportunity off a break of the 1pm bar high. I was looking to see what was going to happen at 67.48 as my entry candle was one in a series of inside bars after the 10:30 wide range bar. So, I was hoping price would push through this level... which it did (but nothing sustainable). I exited half my shares at 1R... another half at 68 and the rest on a break of the 2:15 bar low.






4 comments:

Anonymous said...

Nice trades. Glad to see you have a green day.

Anonymous said...

I might have missed this and maybe you talked about this before.

But how do you figure out your R2 and other pivot levels? Are you using floor pivots or Camarilla's or something?

justin said...

Good to see you back on your feet. Ques. RIO: per my software fib was 36.65. The high for the stock was 36.58. A difference of .07. As such, my order to exit did not trigger. Where did you exit and what was your reason?

OONR7 said...

justin: I drew my fibs. from yesterday's low ($34) to the ORH ($35.88). As such, the fib. extension was $36.58. I exited just below that as I always exit just shy of the fib. ext. since price may make just a quick spike to that point.

anonII: QT offers the pivot points as indicators... all automatic.