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trader-x
Mentoring: The Key to Developing as a Trader
5 days ago
5 comments:
Curious to know if you shorted FOXH this morning. Where did you cover if you did?
Cheers.
Long: Watching PHRM, DJO, and CHRS to break OR resistance.
sung, I did and made a nice, quick gain off of it. FYI - I usually use the previous day's last swing point whereas X uses the previous day's high. The previous day's last swing point was around 28.80, and it gives you a more conservative target at the Fib extension which really paid off on FOXH as it reversed sharply.
TJ
X, Tom C. -
Is a stock's price action from the previous two days long enough of a time period to determine if the first bar of the current day is too 'wide'? Wondering if I should be looking at a 5 day chart and not 3.
Thanks
EM, personally I look as far back as my chart has - at least 10 days.
I am going to be posting about the wide-range first bar and better ways to tell what is too much later this week.
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