BMC, Friday, 15-minute chart, Fibonacci lines over opening range 3 bars, entry on a break of the 6th bar high. It was a hammer type bar with support from the RZ and the 5EMA. Sold a few hours later at the Fibonacci extension.
VIP (Vimpel), Friday May 25th. 15 minute chart. Opening range plotted over the first 30 minutes with fib extensions. Entered after the break at the 10th bar showing resistance to the 5EMA.It also broke through the opening range here. Used the 9EMA as a trailing stop. Exit at 7.33, but it ended up falling to 7.05.
Nice setup!
ReplyDeleteBMC, Friday, 15-minute chart, Fibonacci lines over opening range 3 bars, entry on a break of the 6th bar high. It was a hammer type bar with support from the RZ and the 5EMA. Sold a few hours later at the Fibonacci extension.
ReplyDeleteTom
VIP (Vimpel), Friday May 25th. 15 minute chart. Opening range plotted over the first 30 minutes with fib extensions. Entered after the break at the 10th bar showing resistance to the 5EMA.It also broke through the opening range here. Used the 9EMA as a trailing stop. Exit at 7.33, but it ended up falling to 7.05.
ReplyDeleteAlso note the wide range first candle.
Nice trade. Also 5/15 min doji. PAY Fri 25May nice chart 10/5 min or 5/10 min break short. no pos.
ReplyDeleteNice trades Tom and T. Pasley.
ReplyDeletevery nice trade...
ReplyDeleteFacebook - look at below!
ReplyDeleteDavid
Heikin Ashi candles are a good secondary chart to be looking at when employing this method. Smooths it over.
ReplyDelete