Thursday, May 14, 2009

SRS


Jimhas been trading SRS quite often lately. So I added SRS to my watchlist again. After 3 down days, I was expecting some bounce in the market. SRS 6/15 candle was almost an inside bar and met all my counter trend requirements. Shorted on the break of 6th bar low. Treated it as an inverted C&H to set the target. Target was 50% FE of the pattern. Since SRS has a strong affinity to it's PDH/PDL, I was expecting it to touch the PDL but decided to exit completely at 50% FE.

1 comment:

Day Tradr said...

Feels good to execute according to the plan.