Here are a few charts from Friday - see if you would have taken the trades. There were positives and negatives in each, so what grade would you give them? And, answer the three questions on your own.
Reference:
Grading my set-ups
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Tags:
trader-x, stocks, fibonacci, trading
3 comments:
I traded YHOO. My entry was on the fourth bar break of the OR low. My exit was a tag of the 38% extension. My initial stop was the third bar high + 2 cents. I grade it B+ because it was orderly and quick.
Have traded CHRW in almost the same spot as you have marked on your chart. Got out after bagging a $1 profit. A bit prematurely but being an Aussie sleep was an issue.
big negative with chrw is that it had hit the fib. ext already. It was a beautiful retracement back to the OR and the entry candle was a nice nr7. However, what are your thoughts about entering stocks that have already hit their fib. ext. and retrace back?
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