tag:blogger.com,1999:blog-53522885518174360022011-12-29T19:45:04.900-05:00Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.comBlogger2281100tag:blogger.com,1999:blog-5352288551817436002.post-65210736311468366592011-12-20T19:18:00.004-05:002011-12-20T19:25:55.204-05:00

Simple bear flag formation. Short on the break of 3rd candle low. I Like red, green, red bar for a short when the low is taken out but instead if it takes out the high, worth going long. TZA had the same pattern on 12/13. Pot had the same pattern on daily but today price took out high instead of taking out the long. I entered long just below PDH.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-21139069883347735712011-12-20T19:06:00.006-05:002011-12-20T19:17:21.168-05:00

I was a little bullish yesterday and when SPY gapped up and retraced to 5 EMA right after the open, I was ready to go long on any sign of strength. SPY formed a bearish inside bar and instead of taking out the low, took out the high. I was waiting for the 5th candle to close above 50 EMA on 15 min. chart. Price then took out the morning low in the 6th bar. Instead of going long, I went short,

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-38397000844112893312011-09-22T19:02:00.003-04:002011-09-22T19:08:19.147-04:00

BIDU formed a beautiful bear flag. It was on my watchlist because of the daily. It was rejected near the 150 levels on Tuesday, followed by some consolidation on Wednesday. I was looking for some continued down movement today. First 2 bars nice red, followed by small retracement to meet the sloping 5 EMA. Formed a bearish candle. Entered short there. Nice ride down from there.USO was my

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-48984187523783734832011-09-20T16:34:00.002-04:002011-09-20T16:39:03.703-04:00

SPY tried to consolidate below 9/16 high and 50 EMA but was unable to break. It broke down in the afternoon. Short opp. when there was a WRB followed by red NRB. Entered short on the break of WRB low. This produced good results esp. when market is over extended and with overhead resistance to overcome.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-17986932495471931542011-08-25T08:28:00.002-04:002011-08-25T08:34:53.915-04:00

GLD continued to sell today. It formed a doji on the PDL. Shorted when price took out the low of the 1/15 candle. Took partial at S1 and the covered the remaining at S2.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com8tag:blogger.com,1999:blog-5352288551817436002.post-36627653708536885552011-08-24T09:36:00.003-04:002011-08-24T09:59:28.368-04:00

SLV short setup is what I call 'intraday resistance' short setup. The setup was not ideal as 50 EMA was under the entry on the 15 min chart. Price gapped down, tries to rally, meets the EMA as resistance. Short when price forms a lower high. Entered short, took partial at S2 and the remaining just above $41. I did not take the gold short. I was watching both gold and silver short. Gold was

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-43466846118618414942011-08-04T19:55:00.003-04:002011-08-04T19:58:24.079-04:00

Today is a perfect example that the markets can go down an unbelievable -4.7% even when the indicators say that we are highly oversold. Just follow that charts and have a stop loss.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-19493310159069267752011-07-28T08:08:00.005-04:002011-07-28T08:15:20.334-04:00

Price gapped down below PDL and just above S2. It moved down nicely till 5 EMA caught up with the price. Shorted just below $77, covered partial above $76 and the rest above $75. It was a smooth ride, price never took out 5 EMA which was my trailing stop.Love this pattern but did not take the trade. Nice move down, followed by consolidation and then price bounces right at intraday support and

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-57467310268016711982011-07-26T19:27:00.005-04:002011-07-26T19:41:02.467-04:00

Traded TNA today - both long and short.This pattern is also often repeated. Weakness the previous day, price opens just above the PDL and takes out the PDL within 30 mins. Same pattern here. Shorted on the break of the first candle low. Normally S2 would have been the target but covered above $80 (round number). Price did not tag S2 and reversed from there. Around afternoon, it looked like price

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-18995274167602582402011-07-26T08:19:00.005-04:002011-07-26T08:24:33.543-04:00

Started the day with a long in SLV on the break of 15/3 candle high. Ended this trade in a loss. TNA gapped down and immediately rallied. It met the downsloping EMA's on the 15 min. chart which acted as resistance. TNA consolidated and tried to break this resistance throughout the afternoon but finally gave up. I love this setup because it produces some good results and the win ratio is much

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-66976181193451968132011-07-21T09:28:00.004-04:002011-07-21T09:42:08.435-04:00

I had a nice trade in CLF short early in the morning. Tried to short SLV after it rallied to the 50 EMA on 15 min. which ended in a loss. There was honestly no setup in the silver short trade. Also entered USO short. Since USO was not available for shorting , I shorted OIL which does not have much volume but I am posting the USO chart because I was following USO chart for entry and exit.USO

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-22242838651692929332011-07-20T06:58:00.005-04:002011-07-20T07:04:40.027-04:00

TNA formed a wide range red bar on Thursday right on the 50 EMA. Friday was a narrow range day. I was looking for a continuation of the downtrend on Monday.Shorted TNA when price took out Friday's low. Covered partial at S2 and remaining near the round number.GLD gapped up but I was initially looking for shorting gold because it seemed a little exnteded on the daily. Price formed 4 spinning tops

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-19156013365165550832011-07-20T06:58:00.004-04:002011-07-20T07:04:21.835-04:00

TNA formed a wide range red bar on Thursday right on the 50 EMA. Friday was a narrow range day. I was looking for a continuation of the downtrend on Monday.Shorted TNA when price took out Friday's low. Covered partial at S2 and remaining near the round number.GLD gapped up but I was initially looking for shorting gold because it seemed a little exnteded on the daily. Price formed 4 spinning tops

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-54936459145944030022011-07-15T16:30:00.003-04:002011-07-15T16:40:33.760-04:00

Nice, clean small bull flag to 9 EMA. It chopped around after my entry but finally reached R1. Exited full position there. On the 15 min. chart, 2nd bar was an IB and that convinced me to stay in the trade. Have a nice weekend everyone!

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-74103202693553348082011-07-15T08:35:00.004-04:002011-07-15T08:48:10.538-04:00

TZOO formed NRB's on daily and looked ready for a breakout. It gapped up a little, then price moved down to the rising EMA. Entered long on strong bar off the EMA on 5 min. chart. This Strong volume came in and took partial at R2 and decided to hold the remaining for a further move up based on volume but then decided to sell the remaining. Glad I did that. It failed at R2 and reversed badly.Gold

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-76123364044024569682011-07-13T21:24:00.004-04:002011-07-13T21:31:40.332-04:00

SCCOMissed trade:

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-53385807284960926292011-06-16T07:26:00.003-04:002011-06-16T07:33:28.493-04:00

Shorted on the break of 3rd bar low. Added to the position after it formed 2 NRB's. Took partial along the way and folded the remaining position $64.60.I took a small position in OIL short. WRB followed by 2 NRB's. Break when low of the 2nd NRB was taken out.Took me 2 attempts to get this right. Shorted first on the break of 15min - 4th bar low which ended in a small loss. Price moved sideways to

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-3778699003570557562011-06-13T18:30:00.002-04:002011-06-13T18:42:33.941-04:00

Commodities were weak today. CNX was on my watchlist because the daily chart had a short setup under the PDL. First bar is a spinning top hitting the 50 EMA resistance. 2nd bar penetrates the PDL but closes above it. Entry is when price takes out the low of the 2nd bar. Since it was based on daily chart, set a decent target esp. when market/sector favors the trend.USO gapped down, tried to rally

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-90669025493338085432011-05-31T21:25:00.002-04:002011-05-31T21:28:56.160-04:00

Market gapped up today and sold off in the morning. A nice strategy to play this gap up.When to short the gap up

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-71988968822196444502011-05-24T21:26:00.002-04:002011-05-24T21:33:55.414-04:00

Nice move in the morning followed by some weakness before price found support at the 20 EMA. Price consolidated in a narrow range. Went long there and sold the position near R2 and morning high.SLV has been moving in a tight narrow range for the past 4 days. Today it broke out of this range, gapped above R2. Price then retraced a little to find support on the rising 5 EMA. I went long there but

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-43535285181755979092011-02-22T22:33:00.003-05:002011-02-22T22:40:43.160-05:00

There were a lot of short setups today. I had trades in AEM, FWLT, SPY, ABX.SPY was resistance setup and worked like a charm. Gap down, followed by strong up action, meets EMA resistance and continues the trend downward.5 min. chart of the resistance setup.ABX was extended on the day and had gapped up. Wait for a nice entry. 8th bar strong and part of consolidation. 9th bar red doji after a

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-38620446203775438482011-02-17T20:20:00.003-05:002011-02-17T20:35:05.120-05:00

A boring day. Could not find any good setups. Traded NFLX, FCX (twice).Wanted to short NFLX on the break of the 4th bar low but did not pull the trigger. Usually a WRB followed by consolidation is a pause for the continuation of the trend but when price takes out the support of the consolidation, it provides a nice shorting opp. A WRB followed by consolidation but price takes out the low of 4th

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-84276636591350961282011-01-26T21:15:00.003-05:002011-01-26T21:24:42.169-05:00

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.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-12696938061154897852011-01-19T21:22:00.005-05:002011-01-19T21:33:16.731-05:00

2 NRB's just above the PDL. ANR had a new daily setup - WRB followed by NRB. Entered short on the break of PDL. Price broke down on nice volume. Took partial near $57.50 and covered remaining just above $57 (a little above 50% FE of the WRB on the daily.2 strong red bars followed by some pause in the form of a small green bar. Entered short on the break of the third bar. Covered entire position

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-76547424267163097142011-01-12T21:35:00.007-05:002011-01-12T21:52:25.538-05:00

WRB with a big upper wick. 2nd candle is NRIB closing strong. Looked good for a long but the 5 DMA was just above it. Still took a shot. Price ran up, partialled at PDH and remaining at 100% FE of the first candle.I saw CTRP sell-off bars in the morning. At around noon, price consolidated. I thought there was not much downside left as there was the R2 and 20 DMA as possible support area and CTRP

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-90521590426864589592010-12-29T16:26:00.006-05:002010-12-29T16:43:51.695-05:00

POT gapped up. Strong bars which then consolidated sideways forming a cup and handle. NRIB NR7 withing the consolidation was a perfect entry. Partialled at 50% FE measure from ORL to the top of the consolidation. Price usually consolidates near the 50% extension. Gave some time for consolidation and sold remaining when it formed bearish red candles. Also went short here covered near the EOD.This

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-59874102931475667462010-12-28T08:48:00.003-05:002011-08-25T08:35:37.414-04:00

V has been consolidating below $69 for the last couple of days. Scaled in some long above PDH. Added to the position on the break of ORH. Price then consolidated sideways and broke out of the consolidation on high volume. Sold 3/4th above $71, which was 100% FE of OR and 50% FE of the consolidation. Sold the remaining when price failed to consolidate. FSLR formed a NR7 on the daily. Went short

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-49282717312760877432010-12-23T14:40:00.005-05:002010-12-23T14:49:03.964-05:00

CRM was weak yesterday and based near the lows of the day yesterday. EMA's were just the way I would have liked it. Entered short just below the yesterday's low with the base high as stop. Covered half at 50% FE (measured from yesterday high-low). Price found support at 50% FE and retraced back. Covered the remaining position a little below the entry price.MOS formed a nice inside bar (2nd bar).

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-18258448942095238622010-12-15T16:34:00.005-05:002010-12-15T16:44:40.045-05:00

JEC was an ambush trade. First leg down was yesterday afternoon sell-off. Today, it retraced a little only to find the EMA's acting as resistance. Entered short on first sign of weakness. Took off 1/4th at 5 DMA. Half at 35% FE and the remaining 1/4th at S2. JEC was extended on the daily charts and was on my watchlist.2nd bar is an inside bar closing strong. 5 EMA was near to the entry bar.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-19963320371267418972010-11-25T21:26:00.000-05:002010-11-25T21:27:20.853-05:00

Happy Thanksgiving to everyone.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-44347381721128655602010-11-02T19:45:00.004-04:002010-11-02T19:59:38.903-04:00

TNA gapped up and retraced on low volume to the EMA's. It then formed an inside bar. Went long there. Took partial at R1. My next target was PDH but the candles were closing strong. So I decided to hold on but when price came back, I exited the balance a little below PDH.AAPL gapped up forming a WR first bar. Price then retraced in NRB to 5 EMA. My entry was price formed a hammer. There was a

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com4tag:blogger.com,1999:blog-5352288551817436002.post-69268723876108946962010-11-01T22:18:00.003-04:002010-11-01T22:24:50.387-04:00

Started the day with longs in ACI and LVS. Closed both for small losses. The only trade that worked was SPY short.SPY gapped up and hit the high made on 10/25 which acted as a strong resistance. Initially it looked like a retracement to 5 EMA but price tumbled. Took partial at R2, next at R1 and let the remaining run which was covered near $118.00

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-87246228282970083102010-10-25T08:39:00.003-04:002010-10-25T08:40:29.410-04:00

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-35125043929299772042010-10-20T21:32:00.003-04:002010-10-20T21:34:45.790-04:00

FFIV was a reversal trade based on daily.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-73405565761561932662010-10-19T08:47:00.003-04:002010-10-19T08:57:00.943-04:00

FSLR was on my WL based on daily chart. It took out PDH and then retraced to test the PDH forming a nice hammer. Entered long on the 4th bar. Took partial at R2. Price then consolidated and looked like it may go up again but it never did. Sold the remaining near 20 EMA at the EOD.Daily chart of FSLR. 61% retrace of last leg up. Previous day candle was a tailed inside bar, closing strong.BIDU

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-27430784505944723922010-10-15T18:52:00.004-04:002010-10-15T19:00:49.299-04:00

Like this setup. A solid bar followed by slight retracement and consolidation in the form of NRBs on 5 EMA. NRB's mostly doji's and spinning tops, all closing above 5 EMA. Entered when price formed a strong closing candle. Candles are initially smaller and gradually widens. All the candles closed strong, giving no reason to exit.Gaps up above R2 and forms a bull flag. Candle near the 5 EMA closes

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-35372676090651337372010-10-14T09:16:00.004-04:002010-10-14T09:28:42.905-04:00

TZA was the my first trade. Nice downsloping EMA's. Short under S1. The 3rd bar was a bullish green hammer with a nice lower tail and closing strong. I bailed out my position on the break of 3rd bar high at BE.I re-entered the TZA short but now as TNA long. Took a partial near R2 and sold remaining where shown.MON has been basing on the daily. Liked the EMA's - wide gap. 2nd bar was strong and

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-85944448384345424642010-10-06T08:57:00.004-04:002010-10-06T09:00:55.863-04:00

TZA gaps down, tries to rally, hits the downsloping 5 EMA and continues it's trend downwards. Took partial near $25 level, remaining a little below $24.50

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-1307102235178488012010-09-30T21:02:00.003-04:002010-09-30T21:17:59.191-04:00

Markets gapped up above the $115 resistance on some data and hit the gap resistance in early trading and sold off immediately. I was looking to go long and initially thought market was retracing for a move higher. I just could not pull the short trigger. Instead I took a short in AKAM. Markets moved down nicely and then QLD (Proshares Ultra QQQ) made a new high but there was a negative

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-88895513116991527252010-09-23T16:20:00.006-04:002010-09-23T19:49:24.471-04:00

Hope everyone was able to catch the 3 pm sell-off today. Just listing my morning trade.I hate when the market gaps down lower and then shows strength. CECO have some nice volume coming in (daily chart) the last week. On the 15 min. chart, CECO was inside the PDR. A WRB followed by a red IB. Not a very ideal setup. 5 EMA was close to the entry price. Entered long on the break of ORH. A little

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-82845142516883270362010-09-22T21:05:00.005-04:002010-09-22T21:10:00.338-04:00

CTSH short was based on daily chart.Feeble attempt to rally at the open but could not break the coiled EMAs. Shorted on the break of 4th IB low. Partialled on the way and completely covered at S2.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com5tag:blogger.com,1999:blog-5352288551817436002.post-76334101060815912822010-09-22T08:34:00.004-04:002010-09-22T08:38:44.499-04:00

2nd is an inside bar closing weak and just below PDL. Short on the break of ORL. Covered partial at S2 and the remaining near $24 mark.AMZN has had a nice run the past few days. It just needs to rest a little before it move up further. Started to scale in on the spinning top and added to the position on the break of the trendline. Covered near the $150 mark which also happened to be the daily

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-66181641676141740252010-09-20T17:24:00.005-04:002010-09-20T17:43:48.109-04:00

Finally the SPY moved and closed above the Jun & Aug. resistance. As expected, today was a buy and hold day in indexes. Had some good trades in TNA & MOS. Missed the nice move in BIDU which has been consolidating on low volume the last couple of days.Like the simple long setup in TNA. 2 opposite color candles, one closing very weak and the other very strong. EMA's are apart. Went long on the

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-40090889369007134882010-05-17T16:20:00.005-04:002010-05-17T16:27:10.206-04:00

Short on the break of the consolidation which was also the ORL. 20 EMA acting as resistance.Weak first bar, followed by consolidation. Flat EMA's. Inverse C & H. Short on the break of ORL. Took partial at S1 and covered the remaining at PDL.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-4063821818026163962010-04-28T21:42:00.004-04:002010-04-28T21:59:17.274-04:00

Gapped down. First bar left a long lower tail. 2nd bar is an inside tailed candle closing weak and also closing below S2. Entered short on the 3rd bar. Soon after the entry price retraced to the 5 EMA in narrow range bars on low volume forming a bear flag. Like this type of retracement. Added to the position on the break of the flag. Exited when price moved above 5 EMA after forming bullish

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-41846109135202905272010-04-27T23:14:00.002-04:002010-04-27T23:19:00.981-04:00

Gapped down below PDL. 4th, 5th bar are 2 NRIB, 5th being NR7 and very close to 5 EMA acting as resistance. Shorted there. Covered when price began to move above S2.First bar is bullish with a long lower tail. 2nd, 3rd bar bearish off 5 EMA. Shorted on the 4th bar. Wanted to take partial at PDL but covered the entire position by mistake.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-32951691599750957532010-04-07T20:46:00.004-04:002010-04-07T21:00:57.673-04:00

I want to quickly refer you to Jamie's trade in this post. As it is seen on the 5min. chart, price unable to hold the close above $119, moves back to EMA support and consolidates before price breaks down 20 & 50 EMA on high volume. It then forms a flag at the same area where SPY found support in the morning session.I used the 15 min. for my entry and stayed in the trade on seeing the bull flag

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-39066889775469484972010-03-31T22:06:00.003-04:002010-03-31T22:08:29.560-04:00

Very similar to the TNA setup taken on March 25. Failed to hold daily pivot (yellow line) on 2nd attempt.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-68362559249158432202010-03-25T16:51:00.004-04:002010-03-25T17:47:23.085-04:00

Started the day with a couple of losers. I wanted to enter TNA early in the morning when it formed a NR7 just below R1 but was unable to pull the trigger. It shot up from there but was failed to hold R2 and was a good shorting opportunity. Glad to pull the trigger this time and end in green for the day.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-37306144874994239262010-03-03T19:39:00.004-05:002010-03-03T19:52:01.646-05:00

CLF has been very strong recently and had a big run. I was eyeing for some weakness. Yesterday I entered a short when it formed NRB's but it did not materialize. Today it was relatively weak compared to the market. It gapped up but then sold away and formed the handle at the morning low. It formed 2 IB. Entered short there. Partialled near PDL and the remaining a little above S2. Partials roughly

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-10152508900765853992010-02-24T16:42:00.008-05:002010-02-24T16:57:40.056-05:00

This is yesterday's trade. Another cradle trade. Price broke 20 & 50 EMA the previous afternoon and yesterday it opened at PDL and below the EMA's on 5 min. Tried to rally, found resistance at cradle confluence and formed bearish candles. Shorted there and the consumer confidence report at 10 am brought in nice selling.This is today's trade. Shorted above PDL. Took partial on the way and covered

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-8135800724287738032010-01-29T08:27:00.002-05:002010-01-29T08:33:32.084-05:00

Within PDR but had a WRB closing very weak followed by a NR green bar. Entered short on the 3rd bar. Covered near $37 whole number.Price action breaking 20 & 50 EMA on 5 min. chart, then retracing only to find resistance from the EMA's and daily pivot forming a doji. Entered short near that area. Covered at PDL.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com7tag:blogger.com,1999:blog-5352288551817436002.post-54702762237991858322010-01-27T14:57:00.004-05:002010-01-27T15:03:09.109-05:00

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

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-56589639444240119232010-01-26T17:50:00.013-05:002010-02-16T18:47:06.726-05:00

Corey of Afraidtotrade.com often mentions about cradle trade on his blog. This is a trend reversal setup and a must to have in your trading arsenal. The name of this setup was coined by Corey. Below is the Cradle definition from his presentation. The same applies for a bullish setup with prices breaking above 20 & 50 EMA.Setup based on 5 min. chart.Uses a 20 and 50 Exponential MA Price breaks

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-90943178735703891972010-01-12T17:19:00.005-05:002010-01-12T17:59:37.415-05:00

This has been on my temp. watchlist after Stewie posted on his blog sometime ago. The stock has been strong recently. Today, it was a little weak. The 2nd and the 3rd bar were inside bar within a WRB but within PDR. I was expecting price to break PDL but it retraced to meet the sloping 20 EMA. 10th bar was a NR7 and an inside bar. Entered short there.FCX gapped down below PDL. 2, 3 & 4th bar

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-79911052896294235372010-01-11T21:35:00.002-05:002010-01-11T21:40:20.134-05:00

Entered short on the break of 5th bar low which was an inside NR5. Gap up and immediate sell-off in the first bar followed by sideway consolidation in the lower part of the first bar. 6th bar is an inside NR5. Entered short on the break of the 6th bar low. Took partial at R1 and got stopped out at BE on the remaining.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-41095825970565107362009-12-01T16:19:00.004-05:002009-12-01T16:29:36.451-05:00

RINO was weak compared to the strong market in the market. It sold off right after the open but I could not get a nice entry. It then set up an ambush trade. Entered short when price could not hold 50 EMA on 5 min. It was an easy ride to the 50 EMA on 15 min. which was also 50% FE from the morning high to morning low.I entered SU on the break of 2nd inside bar high. First bar had a nice upper

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-30077693735659729512009-11-25T15:47:00.006-05:002009-11-25T16:00:01.463-05:00

Agriculture stocks have been strong recently and have been undergoing correction the last couple of days. In the pre-market, $USD was weak, so I was watching commodities for a bounce.Initially I wanted to go long AGU but the overhead EMA's were too much for me. Went long MOS on the bull flag break and exited completely near $55.40.FCX gapped up a little and the first candle saw some selling.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-87525176497343063062009-11-23T22:26:00.001-05:002009-11-23T22:28:23.365-05:00

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-15339984670116750032009-11-13T19:16:00.002-05:002009-11-13T19:21:17.976-05:00

SPY formed a series of NR7 at $110 level. Shorted on the break of the NRB consolidation. Partial at ORH where it formed a doji and remaining near the 5 day (orange) EMA.MOS had a nice entry on the break of 'h' shaped pattern.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-30277701014078211242009-11-12T22:15:00.004-05:002009-11-12T22:30:01.995-05:00

Entered long based on 15 min. Market was weak and AMGN formed a hanging man like candle, tried to move up but took out the low of the HM. Exited full position there.Entered short on tailed inside red on red bar. Took partial when it formed an inside NR7. Exited full position when it formed 2 inside bars.Was expecting some weakness in SPY today. Little sell-off right after the open, found support

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-81205617261911545932009-11-10T21:18:00.002-05:002009-11-10T21:23:23.083-05:00

NR5. Looked like a bullish flag initially but failed. Entered on the break. Easy ride to 20 EMA.Entered on the break of 2nd candle which was a tailed inside red on red bar. Watch carefully for 50 EMA support. Added again. Exited at $27.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com4tag:blogger.com,1999:blog-5352288551817436002.post-29435677041724621562009-10-14T21:21:00.002-04:002009-10-14T21:30:51.777-04:00

SPY gapped up on good earnings and guidance from INTC yesterday after the close. It formed a bull flag reaching the upward 5 EMA. Took partial at morning high and sold remaining near the close. Gapped up forming a spinning top followed by a NRIB. Entered short on the 3rd bar. I did not wait for it to close below 5 EMA. After the entry it consolidated sideways and went down slowly to fill the gap.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-30902254467611182442009-10-11T18:03:00.002-04:002009-10-11T18:14:43.360-04:00

Entered on the break of 2nd bar low. 3rd bar found ORL as resistance. Took partial at S1, moved remaining to BE. Covered the balance near $45.Simple trade. 2nd bar is an inside bar. Entered long on the break of 2nd bar high, sold at R2.This one was a loser. Entered on the break of 2nd bar low. When price moved back into OR, sold for a loss. It then moved to my target. It provided a very nice

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-4030135638946103542009-10-08T16:34:00.006-04:002009-10-08T16:43:58.855-04:00

Yesterday CLF formed a NR7, inside bar within the tail of the previous bar on the daily chart. It was green on green and on very low volume. This have a high probability of an expansion move coming soon. CLF was on my focus list today. It gapped up above R2 today, moved sideways to reach the rising 5 EMA. 3rd bar closed very strong. Entered on the 3rd bar. It consolidated midway where I could

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-27402536705190247832009-10-06T16:26:00.003-04:002009-10-06T16:38:38.973-04:00

Did not take advantage of such a nice trading day. Had 2 1/2 losers. ABX - entered on retest of ORH. It gave 1R+ and then came back against me. This was my fault for letting this one turn into a loser. FCX and BTU were losers. I was long both when the market reversed. Only savior was WLT.Entered short on the break of 2nd bar low. SPY was strong today along with most of the stocks on my watchlist.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-89335026639329064112009-10-01T21:35:00.003-04:002009-10-01T21:39:57.498-04:00

First bar weak followed by an inside bar. Entered short on the break of the 2nd bar. JOYG then formed a bull flag against the PDL. Covered at S2.SPY broke the March trend line. It formed a bear flag against PDL. I entered SDS long on the break of SDS's bull flag and sold entire position at R2.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-9052051852873112512009-09-24T20:18:00.004-04:002009-09-24T20:25:12.953-04:00

Just one trade for me today - ATW. Wanted to short SPY on the break of the 2nd bar and PDL but just couldn't pull the trigger.ATW formed an h-pattern yesterday and broke down today reaching full extension measured from top to the low of the pattern yesterday. Volume was very low. I entrered on the first bar, below PDL.Did not take this trade but saw on time. Nice drop yesterday on volume followed

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-88735840934143208632009-09-23T21:05:00.004-04:002009-09-24T20:26:06.668-04:00

I first entered ASIA on the break of 1st bar high based on 5 min. which was a very pre-mature entry. Got stopped out on the 3rd candle. Re-entered on the break of 4th bar high and covered sold near $21.GET gapped down below and broke S2 in the first candle which closed below S2 and very weak. 2nd candle was an NRIB but was very far away from 5 EMA. Price then consolidated sideways to reach the

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-30725793808374445542009-09-22T19:57:00.005-04:002009-09-22T20:08:51.646-04:00

I'm back. I am hoping to be active at blogging now.Had 2 trades today. Could have turned into a nice day had I not taken partial in both the trades. SPY gapped up but it appeared to me that it could roll down anytime in the morning. I was extra cautious and took partial in both the trades.SKF gapped down but appeared to be strong. However, it was unable to close above R2 which provided strong

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-77065267706821548992009-09-10T16:20:00.002-04:002009-09-10T16:23:28.070-04:00

FWLT gapped down and immediately rallied on open. After hitting R2, it retraced finding support on R1. I entered based on 5 min. chart. After retracing, it formed 2 very strong bars. Entered on the 3rd bar and closed the entire position at FE.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-56926071566133972602009-09-08T21:52:00.002-04:002009-09-08T21:56:56.462-04:00

Traded POT and ABX today. POT did not move much. Closed with a small gain. ABX entry and exit was almost same like Tyler's. Read the trade analysis here.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-6491872584784188192009-09-04T16:01:00.003-04:002009-09-04T16:43:00.583-04:00

A nice day today. There were very good setups on my WL. AAPL was a decent setup but I was already in another trade and did not take it. ESL on the break of the 3rd bar high but EMA was away from the price. Took only 2 trades - CNQ and CAG.CNQ gapped up a little and formed a consolidation near ORH which was also a previous resistance and R2. Consolidation looked healthy on the 5 min. Entered on

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-44658532403894375402009-09-03T17:02:00.002-04:002009-09-03T17:07:04.024-04:00

This week has been kind of frustrating. Missed some excellent entries in gold stocks. Day before that, entered AAPL short - very nice entry but covered very soon :(None of my today's trade made a move in the intended direction. Loss in ANF short, BE in AMGN.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-8718017003079831262009-08-31T18:40:00.004-04:002009-08-31T18:56:02.602-04:00

Could not find any good setup to trade from my WL. Entered POT on the break of 5th bar low. It reached 1R but was away from my target. It then formed a bullish candle that closed strong. I wanted to close my position there but then decided to give it some room. Finally exited with some loss.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-15516386590721798212009-08-20T18:13:00.002-04:002009-08-20T18:20:11.851-04:00

I will be away on a small vacation till the 31st. August. This is my first vacation after I started day trading full-time in June 2008. I should be back to posting in Sept. Happy trading!

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-28604422650124665232009-08-19T16:06:00.007-04:002011-08-25T08:44:39.255-04:00

An exciting day. 1 hr. into the session it looked like I would not find any trade setups today but then SPY formed this lovely bull flag with MA converge. Hope all the trades are like this one everyday. SPY gapped down big but rallied immediately. It then formed a beautiful bull flag with support from the daily pivot. Beautiful price and volume contraction when the flag was formed. All the

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com4tag:blogger.com,1999:blog-5352288551817436002.post-55931313491031540202009-08-18T16:39:00.006-04:002009-08-18T16:54:08.223-04:00

Only 3 trades today.WLT was a nice gainer but I'm not happy with my entry. WLT rallied on the open and reached R2 where it found resistance. 2nd bar was a spinning top like candle inside the first bar. Entered on the break of 2nd bar high. Not happy with my entry because R2 (also ORH) would act as resistance again and it did. Price retraced but managed to stay above my SL. Price found resistance

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-69543566714899324392009-08-17T17:45:00.001-04:002009-08-17T17:46:42.801-04:00

Did not take any trade today.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-2448844404297955622009-08-14T15:11:00.005-04:002009-08-14T20:45:37.506-04:00

GRMN sold on high volume on the open. 2nd & 3rd bar were inside the first bar tail area. Entered on the break of the 3rd bar low which closed very weak. Covered entire postiion a few pennies above $24 $29 mark.AMGN sold off yesterday evening on high volume when the markets were strong on the close. Today's first 2 bars were on low volume and inside yesterday's close bar. A very risky trade

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com1tag:blogger.com,1999:blog-5352288551817436002.post-7973060088233503842009-08-11T16:37:00.004-04:002009-08-11T16:43:57.182-04:00

Two trades today - MOS (loser) and SKFEntered on the break of 5th bar high and covered entirely on 50% FE. However, I did not like the high volume on the 5th bar.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com5tag:blogger.com,1999:blog-5352288551817436002.post-8388812896888156282009-08-10T14:54:00.004-04:002009-08-10T16:24:39.985-04:00

Done for the day today. Had 2 small losers in DISH and ENER. Both were long. The short trades worked out as planned.SPY formed a bear flag against 20EMA and daily pivot. 7th bar was a NR7 and inside bar. Shorted when the low of the 6th bar was taken out. Covered completely near the 5 DMA, PDL & S1.Price below PDL. Formed a bear flag against the 5 EMA. 6th bar was NR7. Entered short on the break

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-12539991937542240672009-08-04T16:23:00.004-04:002009-08-04T16:53:57.957-04:00

I took this trade today on the break of 2nd bar high but exited my position at BE. Where would you have exited (based on the candlesticks) if you had taken the trade on the break of 2/15 high. I have uploaded both 5 min and 15 min. chart but removed the stock name and price. Yellow dotted line: Daily Floor Trader PivotLight Blue Dotted Line: R1Red Dotted Line: R2Purple Dotted Line: Previous Day

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-1906107499716107292009-08-04T16:20:00.004-04:002009-08-04T16:33:34.858-04:00

I had some issues with my trading platform today. So I had to trade on the laptop where I have not added the various studies I use on my desktop. I had set alert for the box play in RIMM which broke out from it's range today. Would have been a great trade. Hope you guys caught it.Casino stocks were on fire today. WYNN gapped up and quiickly took off R2 and then retraced to a shallow base. It

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-67087105739192159812009-08-03T22:22:00.009-04:002009-08-03T22:38:12.060-04:00

Difficult day to find decent setup from my watch list. Most of the stocks made a run in the first 15-30 mins. and at that time they were far away from the 5 EMA to make an entry. ISRG was the only one that made some movement after I entered. Price contraction was like a bull flag but volume was very weird. Luckily it broke from the pattern and I exited at 50% FE measured from yesterday's last 2

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-86499064799445729472009-07-30T17:25:00.004-04:002009-07-30T17:46:49.319-04:00

Managed to get out at BE on this trade. Any constructive criticism on this failed trade - why I should not have taken the trade, what would have been a better entry point etc. will be appreciated.V gapped above R2 and rallied. 2nd candle was a retracement on lower volume but was a sharp retracement. 3rd candle found support on day before yesterday's high and looked bullish. It also closed above

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com9tag:blogger.com,1999:blog-5352288551817436002.post-43222667986945567372009-07-30T17:12:00.005-04:002009-07-30T17:24:00.159-04:00

Did only 3 trades - ANF, WLT, V. Left a lot on the table in ANF, WLT was ok. Managed to get out at BE on V. I'll post V trade in another post. In the afternoon, SOHU and WYNN looked good for a retracement trade but I did not take it.4th candle saw some consolidation and the 5 ENA also came close to the price. Entered on the break of 4th bar high which was an inside bar. Took partial at 50% and

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-79196049858622216102009-07-29T12:51:00.006-04:002009-07-29T19:04:11.559-04:00

A mixed day. What was good? I had 2 pretty decent trades in APOL and WLT. In WLT, I even added to my position which I normally do not do. Bad? because I had 2 losers and both of them were because I did not adhere to my trade guidelines. I have made those basic mistakes in the past and promised myself not to repeat them again but I did. I am really ashamed. If I don't learn from my mistakes, I

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com4tag:blogger.com,1999:blog-5352288551817436002.post-64943814749812382632009-07-28T19:03:00.004-04:002009-07-28T19:15:11.820-04:00

Just 2 trades to blog. Decided to call it a day after that. Missed CELG on the break of 4th bar high. I saw when price had already moved some distance and did not wanted to chase it.SPY gapped down and rallied up immediately after the open but POT sold off and closed below PDL but had a lower tail. 2nd bar was a doji inside bar.  Entered on the break of the 2nd bar. This was a risky trade

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-82408846317100433122009-07-23T16:59:00.004-04:002009-07-23T17:28:06.977-04:00

Ag-Chem stocks were the stocks to be in today. POT gapped down but moved up very strong, moving right above the R2. There was practically no entry point in the first 45 mins. It formed 3 WRB and then stopped a bit and provided a low risk entry on the break of the 5th bar high. Partialled at 50% FE and the rest around $97. Normally I would not have stayed in that long but ag-chem has taken a lot

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-55972249395891992492009-07-22T16:46:00.005-04:002009-07-22T16:57:48.838-04:00

Keeping the post brief. I also had a couple of losers and some other trades too apart from the ones posted below.Tried to use TraderAM's style of trading.  5th candle saw some retracement and was off the ORL and 5 EMA. Short on the break and covered for a $1 profit.Kind of a double top with momentum divergence on oscillators. Very choppy action. Covered at ORH and previous support - $95.40PDL

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com5tag:blogger.com,1999:blog-5352288551817436002.post-40209443985642595012009-07-21T19:10:00.003-04:002009-07-21T19:19:46.385-04:00

Opens above PDH. First bar breaks R2 and closes strong. Next bars starts the consolidation. 5th bar is an inside bar (green on green) and closes strong. Enter on the break of 5th bar high.SPY gapped up and started to sell. It filled the gap and bounced forming a lower high.  8th bar was an inside bar. Shorted there and covered at 50 EMA. FDX sold hard after the open. 2nd bar saw some retracement.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-7673242645135936852009-07-20T16:04:00.004-04:002009-07-21T17:50:44.163-04:00

Strong first 2 bars followed by consolidation on low volume forming a cup and handle pattern. Entered on the break of the pattern. There was volume increase on breakout. Took partial at $39.90. After the strong breakout on volume, there were chances that it would reach 50% FE. So I moved my SL to BE to give price some room to retrace. Covered Sold the remaining at 50% FE.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-42432293071155238402009-07-20T16:03:00.003-04:002009-07-20T16:04:38.625-04:00

Missed AMZN. Placed ordered for BIDU but price shot from there. Could not enter it.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-92193930304527290132009-07-16T16:46:00.007-04:002009-07-16T20:24:58.811-04:00

Unbelievable day. I was expecting some profit taking today after the recent rally but you never know what the market has in store. Entered WLT on the break of 4th bar and got out on the 5th bar for some loss. Had another losing trade in FCX short before I went FCX long. Had some nice trades in FCX, SPY, NYX. SPY formed a bull flag at ORH and PDH in the afternoon. Entered on the break and exited

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com2tag:blogger.com,1999:blog-5352288551817436002.post-61068750269475751132009-07-15T16:20:00.005-04:002009-07-15T20:19:25.739-04:00

CELG sold right after the open and bounced from support (low of a couple of days before - blue broken line on the chart) and closed above S1. 2nd candle formed a reversal candle on S1. I entered early when the 3rd candle took out the close of the 2nd candle. Took partial at 20 EMA which coincided with the $46 level. Moved the remaining shares to BE to give CELG some room for retracement. After

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-14803155344985247062009-07-14T17:03:00.003-04:002009-07-14T17:07:20.145-04:00

APOL formed a cup & handle at the morning swing high. There was volue and price contraction while the handle was being formed. Exited a little shy of 100% extension of the pattern to avoid any resistance at 67 level. 

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-65996131269218675912009-07-09T14:39:00.003-04:002009-07-09T14:51:52.056-04:00

3 trades today. Loser in SPY. Just ok gainers in AMGN, APOL.First candle breaks PDL and closes weak. 2nd bar starts retracement up to PDL. Third bar is NR3, inside bar. Entry below $65. Exited when 9th bar took out the high of 8th bar. Price opens below PDL. 2nd and 3rd bars are inside bars. Entered on the break of 3rd bar low with stop loss above the 2nd bar high. Covered where shown.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com7tag:blogger.com,1999:blog-5352288551817436002.post-85260694845282618232009-07-08T16:25:00.002-04:002009-07-08T16:31:02.251-04:00

I had some technical issues with my TradeStation trading platform and my ISP. I was receiving the data realtime but was unable to connect to the trade server to place my orders. There were some great short setups. Sad that I missed today's trading. Hope you all had a great trading day.

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0tag:blogger.com,1999:blog-5352288551817436002.post-14605702343146868982009-07-06T17:28:00.005-04:002009-07-06T17:41:59.088-04:00

I have been trading APOL for the last couple of days expecting it to fill the gap. Today it did fill but without me :(ERY (Direxion Daily Energy Bear 3X Shs(ETF) is 3X short energy ETF. I went short ERY today which is same as going long 3X energy ETF. ERY gapped up (see 5 min. chart) and formed a nice green bar. 2nd bar took the price further up and started the retracement back to ORL forming a

Day Tradrhttp://www.blogger.com/profile/10147979424429685251noreply@blogger.com0