Wednesday, January 27, 2010

GG, X


Had 2 trades in GG today. In the morning , shorted it on the break of 2nd bar low. Got stopped out for a loss. Shorted again as shown in the chart when GG tried to rally, found resistance from the sloping 20 EMA and on it's way down formed a NR7 inside bar. Covered at PDL.


X gapped down, 2nd bar breaking ORL. It then consolidated sideways and the 8th bar tried to move above 5 EMA but found resistance from ORL. It was off ORL, off the EMA and closed weak. Shorted on the break of 8th bar low. Covered half at near the whole number and the remaining at fib. extension.

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