Here is a trade from Brian:
"Started the week out with a nice trade. GRPN, 15-minute chart, Fibonacci lines over the opening range. Price pulled back to the 61.8% line which was a little deep, but it recovered and I entered on a break of the 14th bar when it crossed back above the 38.2% line. It had support from the 5 and 8EMAs, and I rode it to $12 where it stalled out."
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6 comments:
Nice trade! Why can't I ever find these?
Q
Thanks! I used to be like you and wonder why I couldn't trade these nice setups. Then I took Trader-X's words to heart in this really short post (short, but it says it all): http://traderx.blogspot.com/2005/10/traders-job.html
Tue - short RIO break of the 12:30 bar. Perfect pullback and failure at the retracement zone. Rode it down and covered at the close.
Nice action on HLF today. Got in as it re-crossed the retracement zone at 2:00. Rumors caused it to explode. Probably won't get another one of these for a year or two!
Nice move on HLF Graham. Gapped up this morning and is pulling back now. I have it on my list to keep an eye on.
SNDK short Thursday, break of the 6th bar low. perfect setup - a move down, pullback to the retracement zone, move down to the Fibonacci extension. Then a setup below the Fibonacci extension and slow drift down the rest of the day. 15-min chart.
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