Hindsight trade - LAVA

While LAVA was on my watchlist, I believe I didn't trade it because I had the intraday fib. lines drawn and it was basing below the 50% level. However, when I drew the fib. lines from Thursday's low to Friday's ORH, you'll see price was actually basing at the 38% level. A perfect, low-risk entry presented itself at the 12pm bar on rising volume (a breakout signal). A .06 risk would've easily netted a .49 return if you exited at the ORH.

Hindsight trades

After looking at my watchlist last night, below are some really good opportunities that presented themselves. A very wise man once told me that the 15-min opening range is very important. Somehow... I've strayed a bit from that. I hope to focus more on entries developing within the 15-min opening range. In any case, here are some nice trades that I hope some of you were able to capitalize on:

EVVV: Nice shooting star/inverted hammer right at the intraday 38% level. I really prefer to call this an inverted hammer since a shooting star occurs in an uptrend (3 bars prior is a good example of a textbook shooting star)

MICC: Great marabuzo candle on decreased volume right at the intraday 50% level.

EPAX: NRB on decreased volume just below the ORL and after a WR breakout candle.

I hope you caught these...

I tell ya... trading sure is easy when you look at charts at the end of the day and pick the perfect entries :)

So, I'm on vacation this week but I'm still running my scans to see what I would've missed (pure torture). Here are a couple of stocks that came up on 7/3:

ACH - Long, 15-min

• Placed fibs from low to high of the first bar
• Price retraced and leveled off at the 38% level
• The 10:30 bar formed a perfect candle at the 38% level. This is where you have to weigh the risk as price was still a bit far away from the 5ema (at least for my tastes).
• There wasn't a real exit point so I think I would've exited close to end of day
  

ACAS - Long, 5-min

• Placed fibs from first bar high to second bar low
• Priced retraced back up to the 61.8% level then fell back down (looking like resistance)
• From 10:10 - 10:25, price retraced back down to the 50% level
• 10:25 bar burst back up and through the 61.8% level on increased volume (more than 1.25x the previous bar)
• I would've entered of a break of the 10:25 bar high
• I would've exited off somewhere around the 11:50 area