posted by Trader-X:
There was not a lot to choose from today. At least on my watchlist. BIDU was a saving grace as it set-up on the 15-minute chart below the Fibonacci extension, and collapsed in the 2:00 EST hour. It gave a great signal to cover on a break of the twenty-third bar (3:00 EST) high.
PRLS was a good short on the 15-minute chart. It gapped down and printed a wide-range first bar. The second and third bars narrowed, and were inside bars with the third bar being NRM. The target was the Fibonacci extension, but it was not hit. PRLS still returned a profit of ~3.5%
Here is to tomorrow and more opportunity!
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Tags:
Trader-X, Stocks, Fibonacci, Trading, BIDU, PRLS
Trading Without Drama
3 days ago
7 comments:
I'm new here and love the blog. Was PCZ a stock you would short off of the second bar, which was almost a hanging man?
Thank you.
shorted POT. got out early. POT is a little scary to trade, kinda like lighting your hair on fire. almost hit GRMN on a break above HOD for a short scalp, but i was protecting gains. a couple of stocks that gapped up over R-2 pulled right back to TraderX 38.2% retracement (yesterday's LOD & 30-min HOD today). KMX was one & i think GRMN was the other.
nice trading X!
Nice trades as usual! BIDU can be hard to find shares available. I thought my broker had one of the best short lists, but BIDU is not on there!
Glenn
Hey Glenn. No prob through TNT, just FYI.
TJ
X: nice trade on BIDU. I'm impressed you were able to get a locate. Who's your broker?
Hi X,
I was in PRLS as well.
Did you exit at the end of the session or did you get out around the 7th & 8th bars retracement? 7th bar was "hammer-ish"
Thanks, & excellent trading as usual!
ATB
Clive J
Babak - Terranova Trading
Clive - I held until the end of the day. I actually would have covered on the bars you mentioned, but I was distracted and not paying attention like I normally do. So, I decided to hold or close if it got back to the OR low. Luckily it drifted back down...
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