I hope everyone had a great start to 2011. I am back to trading, but posting on a regular basis will be difficult over the next few weeks as I am still dealing with some family issues. I hope everything will improve by the end of January, and the rest of 2011 is healthy and happy!
Here is a submission from Tim. I encourage anyone to post trades in "Comments", and I will try to check a few times a week and post a chart or two.
"X, I wanted to participate in your call for reader charts. I traded ADSK on 01/05. It was a little "bouncy" around the FE, so I don't think it was the best setup as opposed to one that found solid support on the top. But, I entered on a break of the 5th bar's high (5-minute chart) and watched the $40 level closely for a reversal. However it broke through and made an orderly pullback, so I stayed in and rode the move to $41 and closed my position. My fibonacci lines are plotted from PD close to CD open, and I use the 8 and 100 EMA.
Thanks for all of the guidance, I am hoping 2011 is my breakout year!"
Here is Tim's chart with the trigger bar and exit level marked.
A Simple Mistake Traders Make
7 hours ago