Monday is a market holiday, so I hope everyone is prepared for an extended weekend. I am actually feeling a little ill, so I will probably spend most of my weekend resting, catching up on charts, and watching episodes of "The Office" (and other shows that have been on my Tivo for months).
A trade from yesterday was APOL. It was a similar setup to DLR (posted on Tuesday), but better from the standpoint that it had more room to run before running into prior day's resistance.
Price gapped down and rallied off the low. The fourth and fifth bars pulled back, but not very deep. I would have preferred a deeper pullback, but the added risk was somewhat offset by the lower tails on the third and fourth bars and the nicely formed doji-like candle on the fifth bar (it was also the narrowest range bar of the morning (NRM)).
I went long on a break of the fifth bar's high and closed the position at the FE. Note how the FE lined up almost perfectly with the low from two days before, signaling that price was running into strong resistance.
I will post a few more charts over the weekend.
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