In retrospect it was beautiful; the fifth bar rallies off the 5MA and closes just above the opening range (OR) high. Three bars later you have a 30% gain. Oh well, you win some and you lose some.
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Tags:
trader-x, stocks, fibonacci, trading, ecgi
4 comments:
Damn. Sweet.
I missed that too. Nice chart.
Wow, that was a nice one. I typically ignore stocks <$5 - maybe it's time to reconsider this constraint.
PCLN 15min: Entered at completion of 6th bar which closed above OR and had EMA5 support. Did not wait for break of wider range 6th - trying to reduce risk. Moved stop up during 7th bar (again to reduce risk due to wider range 6th). Stopped out during 9th. It had the makings of a solid setup (especially breaking above the round number 50), but did not offer a great LOW RISK, narrow range entry bar.
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