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Monday, August 07, 2006

Promoted from comments - TNS

TJ posted his TNS trade in "Comments". I am not sure I would have taken it, but it certainly worked for him. He provided solid reasoning, and made a nice trade!

I will resume posting trades tomorrow.

"X, I took a short in TNS off a break of the 3rd bar low. Even though the 3rd bar closed green, it was weak and left a long upper tail. Price had already broken the OR low, and I saw this as a retrace to test resistance before continuing down. The trade netted over 7%.


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Otto said...

Good trade TJ. Where did you exit?

Anonymous said...

I wanted to lock in $1, as it was a big % gain, so I exited on a break of the 10th bar high which was a hammer. Ordinarily I would have held longer, as it was below the 1/2-way point, but I did not want to look a gift-horse in the mouth! In retrospect it was a good place to cover.

Thanks for posting my trade X!


QQQBall said...

nice trade TJ!

did you start watching TNS at the open?

Terry said...

MCY, 15-minute chart.