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Monday, January 22, 2007

UA - 012207; 15-minute chart

posted by Tom C:

I could not take my eyes off UA this morning - it gapped down and after a strong first bar started testing the OR low. Bars 2 and 3 narrowed, and bar 4 was the NRM. It was almost a hanging-man, but more of a doji...it was just sitting on top of the OR low with a declining 5MA overhead.

I entered on a break of the OR low, and covered 1/2 at the Fibonacci extension of the previous day's high to the OR low. I held the other 1/2 as the 7th, 8th, and 9th bars pulled back to the 5MA and rolled over. I covered the remaining position on a break of the 15th bar high.

I think X is posting a trade in CFHI later - I missed it, but take a look at the chart. The entry was similar to my set-up in UA, and it yielded a nice profit.

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1 comment:

Edward said...

I was watching UA, but did not pull th trigger. CFHI was nice to. Good trades.