posted by TJ (my first post - will it crash the blog?):
No detailed analysis here - I think it is obvious if you have been following Trader-X for any period of time. I find one like this every few days, you just have to keep looking.
As X says, answer the three questions on your own.
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Tags:
trader-x, stocks, fibonacci, trading, xnpt
12 comments:
OK, some analysis:
Cross above the OR high.
Narrow range candle that closes at its high.
Support from a rising 5MA.
Bought on a break of the 14th bar high. Closed at the Fibonacci extension.
TJ
That is a nice trade. A little late in the day for me, but nice.
The sixteenth bar was an offsetting bar, and the next one kept moving below your entry point and below the ema. Didn´t you guys move your stops to the ORH? Did others move them to the entry point (exiting the trade in the 16th bar)? I would like to know in your experience how often do you get such an offsetting bar and it is still healthy to stay in the trade. I did spot the X formation and took it. Thanks.
I traded XNPT today also, but only pulled $1 out of it.
Trader-X is the man!
FT
Flat base breakout - nice job TJ
Oh yea. I almost pulled the trigger 9/30 but....Beautiful.Sightings: amzn7/15&premkt 52.7 8 est. Traded: CHAP6/15 fib RVBD10/15. 34(+23 -11) prmkt naz stocks but ended up scattered looking for other trades like new highs for the day >$50 nyse/naz with good patterns. Wasted my time. I could have just sat and watched amzn and exbd(or just 4) all day and hit pay day. It's all in front of me...just a few will do.
Gabriel, maybe I misunderstand but the stop was never triggered. The stop is usually the opposite extreme of the trigger bar.
From the previous day close to the OR high was almost 30%. So when do you rule out a position because the stock shot its wad on the opening gap/15-minute bar? I would think even though XNPT worked, it should have been avoided?
Mike, for me I look at the action after the 1st bar to help determine if it is too wide. Too wide for me is a very wide range 1st bar and subsequent bars that are very narrow. With XNPT, the subsequent bars held a similar range to the 1st bar, so everything looked good to me...
TJ
TJ,
Thank you very much.
Mike
Hi everybody,
Im new to the blog end love reading your comments! Can somebody tell me what was wrong with PDFS-15 mins entered on the break of the 5th bar, and SSYS- 15 mins entered on the break of the 9th bar? Thanks and keep up the good work!
Stefan
Im sorry, posted it on the wrong day! It was meant to be for thurs
Stefan
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