Mar 7, 2009

Friday's trades

Traded FCX (break of 10:20 bar high, :10), but only half my normal shares because I wasn't in love with the setup. Although a variation of the 'brick wall' with the 5ema and fib. level acting as support, I didn't like the amount of penetration below the 5ema prior to entry. But I did like the off-setting bar pattern. Ended up exiting my position on a break of the 10:40 inverted hammer low for a small loss.

POR was the only other stock I was looking at and thought about entering on a break of the 1:40 bar high (:10) but just didn't like the choppiness of the market.

A disappointing end to the week but I did meet and exceed my goal so I'm happy about that.

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