Wednesday's trades
Certainly didn't think I would be going short after the first hour of trading but that's what I ended up doing. Caught a couple of nice moves with LLTC and DF. Red arrows are where I exited all my shares.
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7 comments:
Good Trading.
I really like your DF trade! The entry is also right below S2. Congrats 00nr7!!!
traderam: thanks... same to you. Good couple days indeed.
Anarco: you're ripping AXP. Nice work.
oonr7 - I saw a long opportunity at bar 5 of LLTC on the 15 minute time frame - why did this pattern not work as a long setup at that time?
tom: wow, a genuine question about trading. Haven't had that in ages.
I looked at the chart and my data has the 5th bar closing at 24.02 with the high at 24.08 (green). The ORH was 24.07 (close to it) so right off the bat I would say the 5th bar didn't close above the ORH but, more importantly, left an upper tail as it bounced off the ORH as resistance. Also, this was the third consecutive green bar approaching the ORH. As a rule, I would wait till for price to break above the ORH then retrace back or look for an FU setup at the ORH.
In any case, I don't see the 5th bar high being taken out so I believe you were safe in this one.
How do you place your stops? Excellent blog btw.
anon: 99% of the time I place my stops at the opposite end of my entry candle (plus .02). Glad you like the blog.
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