Thursday, June 18, 2009

Ambush Trade - JOYG


JOYG was an ambush trade measured from yesterday's evening move up start point to PDH. Price held the 61.8% fib. retracement on a closing basis. Entered when price broke out 38% fib. retracement. My first target was fib. base and next target was 50% FE. I set my target a few cents below PDH but price reversed before that. I exited completely at $36.49.

Edited to add: I exited completely because Nasdaq was forming very bearish shooting star candles on 5 mins.

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