This is a paper trade. I had seen a somewhat similar e-mini trade taken by Tyler where price fails to hold ORH as support and penetrates inside the OR. Wish I had taken this trade. My paper trades are usually nice gainers compared to my real trades.
AMLN was a gapper and opened above PDH. It formed a DT on 5 min. chart and showed signs of weakness when it broke the ORH forming a bear flag against ORH and failed to recapture it. Initial target RZ of PD range, full target - ORL, 38% FE drawn from ORH-ORL. AMLN reached 38% FE. Tyler's target was 38% FE. Here is the link to Tyler's E-Mini Trade: Link
2 comments:
Thomas,
I got your email earlier and thought I would just leave a comment while I looked at the trade.
AMLN looks like a good trade,but it is a little different than the one I posted. On mine all of the moving averages were aligned for a short so there wasn't going to be anything in the way. However, yours had the double top, so it looks like it was in a free-fall w/out a lot of support the whole way down.
Nice trade!
Tyler
Thank you for the response Tyler. Nice that you commented here. It will be easy for me to refer in the future. Your's was a nice trade - all EMA's aligned and stock forming lower highs.
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