Showing posts with label nr7/nr3 combo. Show all posts
Showing posts with label nr7/nr3 combo. Show all posts

Nov 8, 2008

Fridays trades

Traded quite a bit yesterday, but I really shouldn't have taken at least 3 of my trades. It's not that they were bad setups but the entries just weren't were I like them to be. FMCN, MT and DIS proved to be the account drainers while FLR, WFC and CXO were the account gainers. Luckily, the gainers were more than the drainers.
I particularly liked my CXO trade as it demonstrates something that I'm trying to do more consistenly. That is, shorting a gap up and vice versa. This is how I can increase my opportunities and, if correct, can be very profitable. I shorted off a break of the 11:45 candle as price fell below the 5ema on the previous bar and then showed consideralbe weakness against the 5ema. I played my exit safe and took profit at the $22 level.
FLR was a nice gain but not a good looking chart. However, I liked my entry off a break of the 11:15 bar high as it was an nr7/nr3 combo. It shot up quickly and and decided to fully exit at close to a dollar gain.

I missed a couple of trades that would've helped my PnL but I liked the opportunities I took.