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Saturday, March 05, 2011

CADX - 030411

Juan posted the following in comments:

"X, I decided to follow your advice and focus on three setups. Although it has only been a few days, I have not had a losing trade! Friday I took a trade in CADX, and exited in under 5 minutes with a 4% gain. All of your principles worked perfectly, including the exit which was at a whole dollar - $9. Price reversed and never rallied back to that point. I entered on a break of the 4th bar's high. The first two bars were strong and green, the third bar was a pullback, but it didn't penetrate the 50% mark. The 4th bar, my trigger bar, was strong and had support from a rising 5EMA. Along with the third bar, it formed the offsetting bar pattern you frequently refer to. I got lucky with a good entry, and sold a few minutes later when price hit $9. I wish they could all be that easy. I am ready for next week!"

Here is Juan's chart with his trigger bar and exit marked in black. The volume might have been a little low for me, but congratulations on a great trade!



Times of Your Life said...

excellent trade Juan

Tom said...

Nice trade, that was a neckbreaker.

Chester said...

I'm not sure how I haven't discovered your site sooner. I've only looked through the first few pages, so I have a lot to do today. This stuff is amazing, thanks.