MS was weak from the start and sold fast. 3rd candle started retracement on lower volume to the sloping 5 EMA which acted as resistance. 5th candle is NR7. Entered short on the break of 5th bar low. All the EMA's were aligned bearishly.
Target: Took partial at swing low. Exited completely at 38% fib. extension drawn from ORH to ORL (based on h pattern)
6 comments:
Thomas,
Nice trades today! MS was perfect execution.
Tyler
Thanks Tyler. I messed up JPM trade today. MS was a nice one. It gives confidence in setup when price reaches the preset target.
BTW, are you moving in the same state or out?
Thomas
Thomas,
Sometimes those targets work like magic!
I grew up in Montana and have decided to move back. I have lived in Florida for about 7 years and need a change. I want to ski until I am sick of the cold and then move somewhere warm again.
Tyler
I also like the nice declining volume on the bear flag. Nice trade!
Tyler,
That's nice. Change is always refreshing esp. if it for things that you like to do.
Thomas
Anarco,
The volume contraction was nice with very low volume on the trigger candle which also happened to be NR7.
Thomas
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