Showing posts with label Hanging Man reversal. Show all posts
Showing posts with label Hanging Man reversal. Show all posts

Wednesday, July 1, 2009

APOL


Just one trade today - short APOL. First bar slices through the PDL and closes below it. 2nd bar is an inside bar filling the tail of the first bar and looks like a good shorting opportunity. 3rd, 4th starts the retracement. 5th and 6th candles are hanging man against the 20 EMA and at the 50% fib. retracement. Target was ORL but it seemed like it just did not want to fall. Covered completely at $69.54.

Thursday, June 18, 2009

Failed BO - AMGN


I traded AMGN first as a C&H based on 5 min. chart. I entered on the 4th bar but there was no volume or price expansion. 6th candle was a narrow range hanging man. I exited my long position and shorted it. Covered completely a few cents above $52.50 to avoid the half dollar bounce.  

Monday, March 16, 2009

Mar 16 - AMGN, WLT



AMGN formed a lower high. Went short on the break of 5th bar low. Exited completely when 12th bar high was taken out. Turned out to be a scalp trade only.


WLT formed a series of hanging man and NRB's around 1-2 pm. There was negative divergence on RSI. Went short when R2 support was taken off.  Exited when the doji high was taken off as marked on the chart.  Exit was premature. I should have taken partial and held the remaining till EOD. This could have turned out to be a good trade.