Nov 2: TNA, GG, AAPL

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 better entry later - tailed, strong closing inside bar. Took partial at morning high and sold remaining when price formed a hanging man.

Consolidation near the EMA's. Went long inside the consolidation actually. Took partial near PDH. It then formed a long tailed red inverted hammer. But when price, instead of falling started to continue up, added back. I have noticed that after a long tailed hammer if price continues up at least half way the hammer, the odds of continuing upward is high. Exited entire position where indicated. Price tagged R2 later.

Oct 18 Trades - BIDU, FSLR

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 formed a bull flag at R2. My entry was a bit early in hindsight. Took partial at 50% FE and sold remaining price took out 5 EMA on nice volume.

Daily chart - forming a base near 20 EMA after a nice move up.

Long: MON, AAPL

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 strong providing an excellent entry.

TNA, MOS, FFIV

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 break of 2nd candle high. Sold 3/4th around the $45 level. TNA then retraced. 12th candle is weak and the 13th candle takes out the lower and immediately reverses. Added to my position here. Sold the remaining at the end of the day.

MOS was based on daily chart. which had a WRB followed by an IB. Was expecting a move today if market was strong. 15 min. chart almost same as TNA. Opposite colored candles with support from 5 EMA. Wanted to take profits in MOS and sold on weakness. I entered long again at the 2 NR7 on R2 support but was stopped out.


Move followed by sideway consolidation. Was expecting it to make a move but nothing much happened.

CAKE, AMZN - scalp

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 candles.


AMZN - scalp trade. This was meant to be a scalp trade from the start. AMZN was relatively weak from the open. 2nd bar was a doji. 3rd bar opened below the close of the 2nd bar. Entered short therewith the high of the 2nd bar as SL and $140 as the target.

Had a loser in GS. Looked like t it was forming a bull flag and entered the trade even with the overhead 5 day EMA as resistance.

I took a swing position in GG yesterday on the break of the base but sold today.

WLT

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. 4th, 5th candles looked strong and I was sure that my SL will be taken out. Moved my SL above 3rd bar high. Took partial at 20 EMA & R1 where it found some support and bounced back on very low volume. Added back to my position and exited at daily pivot.


Gapped up, strong first bar followed by a slight retracement to the 5 EMA. Entered on the break of inside bar. Partialed near morning swing high, sold remaining at the end of the day around that level.

FWLT, SKF

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 resistance along with the sloping 5 EMA. Candles with long tails near R2 resistance. Took partial along the way and finally exited at 35% FE measured from PDH-ORL.


FWLT strong in the morning when SPY was a bit weak. WR first bar, hit high from a couple of days before which also happened to be the high of this year. I bought based on 5 min. chart on retracement. ORH seems to be acting like resistance and formed a bearish candle. Took partial there. Sold remaining near 35% FE.

Tomorrow we have Crude Inventories at 10.30 am and FOMC at 2.15 pm. 

FWLT

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.

WYNN

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 formed inside base at 5 EMA support. Entered on the break and covered completely near the $58 mark.

POT, MOS, AMGN

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 of hitting recently and theere would be a lot of short covering.

Jamie of Wall St. Warrior often pair trade. I have never done this before but MOS alos provided a nice entry on the 5th bar. So I decided to take it. I however did not hold it for long. Sold completely for a $1 gain.

AMGN was a sympathy play. CELG gapped up around 10-12% today. I was watching for a entry in AMGN right after the open. 2nd, 3rd bar show some retracement and the 4th candle finding support near PDH. Entered long on the break of 4th candle high and exited when it appeared that it will need some time to consolidate. Re-entered again but exited when it formed a red doji.

Note: Entries on all the 3 stocks were above R2.

I had a losing trade in SPY. I tried to short SPY on such a strong day. Very foolish of me. I had a BE trade in HK and a small gainer in SPY long. I exited too early. Also had a small loser in MOS. I wanted to place a stop market order for long but by mistake, used a limit order and the order got filled. Price moved down and I exited at market.

I am taking off tomorrow.

July 16 trades

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 at 100% extension of the pattern.


NYX formed a base at previous resistance which now acted as support. I wanted to enter on the break of the 10th hammer and inside bar but the next bar was unable to take out the high of the hammer bar. Entered when NYX formed a doji followed by a bullish candle. Normally I would have exited at the red shooting star but since I had a nice gainer in FCX, I moved the SL to previous bar low which was never taken out.

Edited to add: This was a bit risky trade because volume was very low while the base was formed. ideally an increase in volume is preferred indicating that buyers are coming in.


Simple retracement trade when FCX formed 2 inside bars on 5 EMA support. Took partial at ORH and remaining at the end of the day. It was a painless trade after the partial because all the candles made higher lows, no reason to exit.

AMGN, APOL

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.

Retracement Trade - X

Commodities were weak today. X gapped down and soon took out the PDL.  The third bar was a hammer and started the retracement to the downsloping 5 EMA. Price failed to close above 5EMA and PDL, both acting as resistance. 6th bar was NR5 and closed very weak. Entered short on the break of sixth bar low with $39 as target which was next support level from a couple of days before.  X was up third days in a row, commodities were weak today, X gapped down, PDL was not taken out on a closing basis after price took it out, EMA's were bearishly orientated and sloping : all indicators were bearish. X reached the target slowly. Exited my entire position a little above $39.

QLD

This trade is similar to my 1st FCX trade today. 12th candle completed the retracement. Entered long on the break of the 12th candle high and exited my entire position at $39.80, just below PDH.

FCX

I traded FCX twice today. This is the 2nd trade. 14th candle was a NR7. Entered long with price breaking the PDH. Price formed an inverted H&S on 15 min. with yesterday's and today's price action combined with PDH acting as neckline. I thought price would test the neckline and then take off. So I did not take partial. Price tested PDH and then chopped around. Closed for a small gain. I should have taken partial when price reached 2R which also happened to be 3 consecutive green bars.


Only 1R gainer but I liked my entry. 3rd bar bounced off 20EMA. 20 EMA held as support for 6th and 7th candle on a closing basis. 7th candle an IB. Entered long on the break of 7th bar high and exit ed completely at 15min. ORH.

FSLR, ISRG

FSLR bounced off again today from the $174 support. Entered on a retracement. There was also a morning doji bullish reversal on 60 min. Partialled at PDH and intended to hold the remaining till the EOD but on seeing a spinning top and bearish candle just after a couple of bars, I tightened my stop and got stopped out. I should have let it run. Left a lot on the table.


Weak red first bar followed by some sideway consolidation. Entered short on the break of the consolidation. Exited entire position at 50% FE measured from top of the first red bar to the consolidation. 

Charts

These charts are for my future reference.

GS

NFLX

2nd bar took out PDH and closed quite strong. 3rd, 4th started the retracement to the 5 EMA on 15. 4th bar was a perfect NR3. Entered on the break of the 4th bar. Took partial at recent swing high. Stopped out of the remaining on the 8th bar.

FSLR

FSLR was an earning gapper. 1st candle closed very strong followed by slight retracement to the 5EMA on the 15. 4th bar closed very strong. Entered on the break of 4th bar high. Took a partial on the way to lock in some profits and exited completely at 61.8% FE of the OR (15min).