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Thursday, November 09, 2006

Thursday's action

I may take off a little early today. I had a few "quick hits", the nicest being COP on a break of the fourth bar high (15-minute chart). Note how the rising 5MA was providing support and how the fourth bar closed above the opening range (OR) high, and at a new morning high. COP rallied from that point and hit the Fibonacci extension of the previous day's low to the OR high four bars later.

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4 comments:

Anonymous said...

KGC was a great % gainer with very low risk on a break of the 6th bar.

T.J.

Randal said...

Nice trade TJ. Are you still holding?

Anonymous said...

Yes, it kept going through the Fib extension, and I will sell if it takes out a previous bar's low.

T.J.

Dan A. (N.J.) said...

Anyone catch GT?