Wednesday's trades
Just a couple of 'stress-free' trades. The kind that don't give you much worry about when you enter and no surprises when you exit. Just trading the plan.
First went short PBI off a break of the 10:10 bar low (:10). Nice shooting star off a pullback to the 5ema. The ORL was actually my 1R target so I was curious to see how price would act. I thought it would continue further below the ORL but it didn't and I exited all my shares on a break of the 12:10 bar high. When price closes above the 5ema (in a short) that's my cue to bolt.
Next I went long AU off a break of the 10:30 bar high (:10). The entry candle was a perfect hammer at R4, closing above $35 and was an nr3/nr7 bar. The only bad thing was it was below the :30 ORH. It all worked out and I managed to squeeze a $1 gain out of it in the end.
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8 comments:
AU was not a good setup. Good that it worked out for you.
PBI should have gone down harder but for the strong market.
My longs:
DVN
TRLG
3R
missed WNR also
anon: I'll take the AU setup any day... not sure what you don't see. PBI is AU flipped upside down on the :10.
I, too, mistakenly pass on WNR.
Nice trade on AU :-)
Was looking at that as well, but couldn't convince myself of a setup on the 15min chart.
There is plenty of room on the web for another blog anon....show us how it's done...lol
00NR7,
Nice trades! AU was picture perfect. My brother has been using the 61.8% Fib Extension of the OR (30 MIN) and that couldn't have been better.
I couldn't catch a break. Hopefully I will get my shit together tomorrow.
Tyler
traderam: thanks. Something tells me anon is someone we're familiar with from the past. All talk.
tyler: I'm sure tomorrow will bring some good setups.
Good volume patterns/confirmation in both setups. Nice job.
OONR7,
I was short PBI today too but got wicked out on a stop just above $23.60. I use a smaller time frame on my charts than you and the 15 minute opening range, but similar concept than you guys. I'm still learning and very green overall so small 100 to 200 share positions.
Take care,
Charlie
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