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Thursday, October 26, 2006

HXL - 102606; 15-minute chart

posted by Tom C:

Does anyone remember the "slim jim" from Kevin Haggerty...is he still around?

HXL gapped up and formed a narrow-range channel for the first 10-11 bars. This is not a standard X set-up, but uses X's principles. I entered on a break of the 11th bar high as price started to rally off the rising 5MA. I sold 1/2 at the Fibonacci extension of the previous day's low to the opening range high, and the remaining 1/2 towards the end of the day on a break of the 23rd bar low. It was a nice percentage gainer.




Check out PLD for a similar set-up at around 1:15EST - answer the three questions on your own.

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Posted by Trader-X at 4:23 PM

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DISCLAIMER - I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES; I JUST POST MY THOUGHTS, TRADES, AND OPINIONS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS. ALL CHARTS ARE COURTESY OF REALTICK. ALL TIMES INDICATED ARE NY (EST).