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Wednesday, June 21, 2006

Wednesday's action

posted by Tom C:

I took a sub-par short set-up in TEVA as it moved up into the retracement zone and narrowed in range for four bars. Luckily, it is working out.

I will try to post a chart or two tonight. But, again I don't see a lot on the radar. It is forcing me to be more creative!

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7 comments:

Anonymous said...

teva is working out real nice...really collapsing. why did you say sub-par?

ryan

Trader-X said...

posted by Tom C:

Ryan, only because I didn't like the first bar...it was wide range, left a long lower tail. In my mind it was 1/2 bullish 1/2 bearish (though I never would have been long). But, I saw the narrowing bars at resistance, and took the trade.

Anonymous said...

ARO, 30-minute, break of 5th bar high.

Anonymous said...

X will share his new filter at the end of the month.

Trader-X said...

NFNG - yes. I will talk about it at the end of the month. But, I think some people already figured it out...look back through some previous post's comments. Nothing proprietary.

I hope everyone has a good Thu and Fri!

And, what a choke by the Mavs!!!

Anonymous said...

Mavs did choke! I can't believe the Heat won 4 in a row.

Don't forget that USA plays Ghana tomorrow.

QQQBall said...

CNC hung around the $25 round number, then finally gave it up. scratched on SKX - i had .61 as a retrace level and i left before it got to .52 and then closed near LOD - not big money and stock moves really Slooow, whcih is kinda scary.

AMLN was strong and hit target - believe it traced to .38 TraderX Fibbo before heading higher.

i have to learn to trust the set-ups, particularly new HOD after 1pm and brak above Fibbo extensions... much larger bars than im used to trading.

great trade on TEVO. congrats!