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Monday, August 14, 2006

RBAK - 081406; 15-minute chart




RBAK gave two great opportunities today - a break of the second bar high, which if you read the blog is a formation/set-up you know I like. And a break of the fifth bar high which closed strong above the Fibonacci extension (and was a hammer-type bar).

The position was closed on a break of the twelfth bar low - which was the first bar to have it's low taken out for the day.

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5 comments:

Mandeep said...

Hi X,
I am new to your system and I am trying to follow your set ups. I went long WFMI at the break of the second bar high with a stop below the second bar low. I got stopped out at the fifth bar low. Do you think I should have done anything differently.
Thanks,
Mandeep

QQQBall said...

Nice trading X, you're really adaptable taking all kinds of set-ups. SWN gapped down and retraced to right at the 1st 15-m high, then tanked for a quick buck back in the original direction of the gap.

John Wheatcroft said...

X - did you know that your blog is being copied on a site called trading markets? You should look at this url for the story.

howardlindzon.com/?p=863

John Wheatcroft said...

I think you can sue these folks if you didn't sign up to be included.

See http://howardlindzon.com/?p=863

for the story.

Trader-X said...

Hey John - thanks for the post. I gave them permission to use my content. Also, Brice responded to that post so take a look at his answers to the questions/concerns (in that posts comments).

Thanks again. Everyone else, I am behind on email and posting - I will try to get something up late today (or Tom C. will).