PRU was an interesting setup. It was a little higher-risk as I would have rather seen it bounce off the 50% retracement rather than close below and then - on the next bar - close back above it.
Nonetheless, I liked the bounce off the 8EMA, and the gap and move up during the opening 30-minutes.
I entered on a break of the 7th bar high (lower yellow arrow), and sold when price stalled at the halfway point to the FE (upper yellow arrow).
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3 comments:
Awesome posts! Question is, how do you find these stocks. Do you normally watch them or you use a filter? Thanks!!
Long time reader first time 'poster'.
If someone is kind enough I'm curious to know your opinion on a trade I took the other day as I've been struggling of late.
5.7.09: GME/30-Minute chart/Shorted break of fourth bar.
Did I miss something or should I tack this up to the 'you will inevitably have losses' column?
Appreciate your time in advance.
Anon - click "WELCOME AND LINKS TO KEY POSTS" at the top of every page and you will find information on how I build my daily list.
Anon 2, you were shorting against a really strong previous bar. From a candlestick perspective, it was not a valid short signal so I would not have taken it.
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