CAL was an NR7 range contraction/expansion trade that I planned to take on a break of the
downsloping trendline. However, the opening gap was too wide, so I waited for a NR low risk entry following the
doji consolidation of the second bar. My preliminary target was $36.56 and I moved my stop to $36.49 when it appeared that we might be able to go higher. A few minutes later my stop was hit.
JOYG was a low risk entry following a lengthy consolidation. The stock rallied into the close taking out morning resistance and challenging yesterday's high. I like these types of setups and look for them between 1:00 and 2:30 in the afternoon. After a strong move in the morning and a fairly orderly pullback, the stock forms a series of very
NRBs and a shallow base. It usually starts to lift on an uptick in volume and often rallies into the close.
CAL was an NR7 range contraction/expansion trade that I planned to take on a break of the downsloping trendline. However, the opening gap was too wide, so I waited for a NR low risk entry following the doji consolidation of the second bar. My preliminary target was $36.56 and I moved my stop to $36.49 when it appeared that we might be able to go higher. A few minutes later my stop was hit.
JOYG was a low risk entry following a lengthy consolidation. The stock rallied into the close taking out morning resistance and challenging yesterday's high. I like these types of setups and look for them between 1:00 and 2:30 in the afternoon. After a strong move in the morning and a fairly orderly pullback, the stock forms a series of very NRBs and a shallow base. It usually starts to lift on an uptick in volume and often rallies into the close.
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