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Thursday, September 14, 2006

Thursday's charts

posted by Tom C:

I think many of us traded HANS today - it just missed the Fibonacci extension of the previous day's low to the OR high; but you should have been able to take ~$1 profit out of it.

DD was a classic X "above the Fibonacci extension" play.

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John Wheatcroft said...

AMR - second time this week - took it off the break of the 4th 15-minute bar. I love this play I call it "Retreating to 8" - the price slides sideways to the 8-period EMA and takes off from there.

Trader-X said...

posted by Tom C:

John, X has been using the 5 on the 30 and it has given some good results. I think he got the idea form you. Check it out.

F.G.R. said...

Where is X this weeK?

Trader-X said...

posted by Tom C:

I think he is in Boston collecting on a bet?

: )

QQQBall said...

nice trade john. that RFIL chart is a beauty. i figured we'd chop today, so i didnt trade anything intraday.

NABNALB said...

On DD, how do you set/adjust your stop after breaking through the extension? Break of previous bar low, break of MA line...?