Despite the volatility, I could not find many good setups today. I had a few good Futures trades, and I took a setup in APOL which - in retrospect - I don't think I would take again. But it turned out to be a winner.
APOL gapped up and printed a very wide-range first bar. What caught my eye was the next three bars were inside bars with narrowing range, and the fourth bar was a doji or spinning top-like candle. And the first four bars stayed above the 50% retracement of the previous day's low to the OR high.
I bought on a break of the fourth bar, and exited at the Fibonacci extension. As I said above, I would think twice before taking this setup again; it was somewhat subpar. I would have preferred to see an orderly pullback to the 50% level with a hammer or offsetting bars.
Trading 21-Oct-2016 (- $27)
11 hours ago