Regular readers know that I do not pay attention to - or try to game - the overall market conditions. I take good long or short set-ups as they come, and rarely look at the major averages.
But I admit I entered today with a short bias because of the nuclear bomb exploding last night. And then I remembered it happened on "24". Oh well...
I was watching SYMC; it gapped down and attempted to rally but quickly rolled over. Bars six through nine consolidated in a tight range above the OR low, and had a declining 5MA providing resistance overheard.
I entered on a break of the tenth bar low - the tenth bar was weak and closed below the OR low. The target was the Fibonacci extension of the previous day's high to the OR low; it was never reached and I closed SYMC at the end of the day for a 3% gain.
Note - I had to turn on word verification for "Comments". The spam is getting heavy, and I am tired of having to delete it every few hours. I am sorry for the added step - but please keep commenting and posting your thoughts/trades!
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Tags:
trader-x, stocks, fibonacci, trading, symc
4 comments:
lol
Is Curtis really dead?
Note to self: Do not read the Trader-X blog prior to watching 24 on TIVO. In addition, do not read the comments.
However, I expect no sympathy, because I should have just watched the show last night like everyone else! Where's my dedication? Oh well, just another valuable lesson learned by the strong fist of Trader-X.
SYMC was really nice. I wussed out on KNOT.
lbcando - no, I don't look at timeframes other than 15 or 30-minute.
esto - sorry about that!
Don't worry about it...I should have watched it last night like the rest of the world!
I really enjoy the way you integrate non-trading content (such as 24) into your trade analysis; you are a skillful and humorous writer.
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