Another "so-so" day. I did have a good short in CAL, with a move down to the retracement zone.
I had very high hopes for PFACP, and sold 1/2 of the position at the 50% line between the high and the Fibonacci extension (for a nice 10% gain). But, the stock fell from there and I closed the remainder of the position for a much smaller gain.
I hope everyone is having a good day - check back later for charts. And GO ENGLAND!
8:00PM edit - trouble posting charts. Look at the two above on your own. And check "Comments " for more. I will try again later.
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Tags:
Trader-X, Stocks, Fibonacci, Trading, CAL, PFACP, World Cup
Trading Without Drama
3 days ago
4 comments:
I had a good trade in fro - made it to the fib ext and then reversed.
stopped out on PGIC. it went up to close gap and stopped just below R on the 15-min chart and drifted back down all day. i should have hit the short higher - in the future, when the OR 15-min is a hammer w/ wolume, i will look to short at 50% or 61.8% retrace level. shorted (scalps) on GYMB waiting for a retrace to 36.61 retrace level - left early, see it rolled at 36.52. i was surprised GYMB wouldnt roll over from lower - sometimes hard shorting near round number? traded in and out of AA only to look back and see that my short at .55 would have made my day - i lost track of downtrend. BTW, GIL was very bice today, made a HOD after 1pm until news of a fire came out. other than PGIC loss and an order entry flub, im out commish today. you guys are making it look easy!
Long CAL break of 2nd 30 minute bar, stopped out. Shorted CAH break of 3rd 30 min bar. Anyone see any reason for CAL not to have worked?
Hey Zoomie - I know it was mentioned before, but I am working with a new filter that would have eliminated CAL as a long. I hope to share it at the end of the month.
In the meantime, if you were long CAL it stalled at the OR high. That is why I always have my standard disclaimer to watch the area closely, as it is resistance (or support if the OR low).
The third and fifth bars left long upper tails, and were weak. I actually entered a short on a break of the third bar low.
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