Ambush Trade - AGU, BGU

AGU sold immediately after the open and then retraced in the ambush zone: 50-61% of the up move in this case and held 61% retracement level on closing basis. (For details on ambush setup, pls. visit Wall Street Warrior blog). It formed a bearish shooting star like candle at the 61% level. Entered short and covered the entire position at base.


BGU which is large cap bull 3X ETF whose movement is more or less like the Dow index. First 3 bars were nice red bars. It found support a little below PDL and started to move back up strongly. 11th bar started the retracement and found support in the ambush zone. Entered long when price mobed strongly above the ambush zone, took partial at base and left remaining at BE. My next target area was 50% FE from the base but when price was unable to break above 33 level decisively, exited entire position a little below 33 level.