Wednesday, January 26, 2011

NOV, SU, GS

First bar green but with a big upper tail. 2nd bar is an inside bar which closes strong. Entry was below R2. Took partial near daily resistance of $70 and remaining near $70.50. Exited early.

Narrow range inside 2nd bar just below PDH. Put a buy order above R1. Partialled out at R2 where price consolidated and formed a bull flag. Sold remaining at 100% FE of the bull flag formed just below R2.

First trade of the day was GS short. Shorted and stopped out on the same (3rd bar).