I made a post earlier about a "quick hit" in JAS. It was a beautiful chart, and I am posting it below.
From beautiful to frustrating - I sat on AAV all day, and ended up with little to show for it. I entered on a break of the 2nd bar high. I like the pattern displayed by AAV - a variation of "filling in the tail" (with support from a rising 5MA). I thought price would rally from the break, but it went sideways until the close.
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Tags:
trader-x, stocks, fibonacci, trading, jas, aav
2 comments:
ACTS above the Fib ext.
LB, look at the charts and you can answer the questions yourself. Your original stop would never have been hit, and both were big gainers. Stocks don't just go straight up, they ebb and flow. They move up, pullback, move up.
My advice is that unless you are locking in a good gain of .50 or more, leave your stop where it is initially. Don't move it once you get a small gain, because you will get stopped out. Give the stock room to breathe.
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