FCSX - 041307; 15-minute chart
Price gapped up and bounced around the OR high. The entry was a break of the fourteenth bar high.
HBC - 041307; 15-minute chart
Price gapped up and pulled back. It resumed the uptrend and moved back above the OR high. The entry was a break of the twelfth bar high.
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Tags:
trader-x, stocks, fibonacci, trading, fcsx, hbc
4 comments:
Hi X - I noticed that FCSX did not show up initially on my scans because I was only looking at atocks that gapped up by more than 1.89% - which eliminated FCSX. Actually nothing really looked good until I went back (after trading) to look at how stocks performed with only a 1.39% gap up and I found three candidates: AU, UXG and FCSX. Do you find any correlation between successful set-ups and a certain percentage by which stocks gap up? One of your posts say you want to see a lot of white space but perhaps Friday's selection suggests minimal white space between the low and next day's open is not so meaningful?
Tom, I don't look at % gap as much. For both the stocks I highlighted - IMO - there was good white space. In fact, both gapped up above the previous day's high...so it doesn't get much better than that for me.
Nice trades as usual. What is the gap list you are using now?
X, have you ever considered doing a real-time chat room where you call plays? I know I would subscribe.
Great blog. Thanks for sharing.
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