SINA gapped up on the open and pulled back sharply carving out a wide range red stick. the pullback continued for the first hour until it managed to find support at $27.00. After it became clear that
SINA's retracement was over and a rally or potential retest of the opening price was possible, I took a low risk entry on the open of the 7
th bar. My entry was $27.40 and my target was $28.50. I eventually settled for $28.30 since the market was weak and profits have been hard to come by this week.
I was hoping for a rally into the close when I took this low risk entry on
NVDA. My risk was $0.12 and my reward was $0.50. Not bad.
SINA gapped up on the open and pulled back sharply carving out a wide range red stick. the pullback continued for the first hour until it managed to find support at $27.00. After it became clear that SINA's retracement was over and a rally or potential retest of the opening price was possible, I took a low risk entry on the open of the 7th bar. My entry was $27.40 and my target was $28.50. I eventually settled for $28.30 since the market was weak and profits have been hard to come by this week.
I was hoping for a rally into the close when I took this low risk entry on NVDA. My risk was $0.12 and my reward was $0.50. Not bad.
2 comments:
Bonjour Jamie,
I am new to trading and am searching for my "edge", and came across your gappers set-up. If I am reading correctly, you wait for a pull back to the 10 ema and go long on on the next bar when it takes out the previous bar high. I scanned all long gappers today 11/6 and did not find a set-up - did you get one? (I visited Montreal while playing on a hockey team when I was a youngster. What a great city you have -and the food - manifique! sp?
Hi Huh,
I traded CAL as a gapper/dummy setup this morning. Long at $35.10 on fourth 15 minute bar, and exit at $36.00. I don't necessarily wait for a pullback to 10 ema, but I want to make sure the ema is not too far away as it acts as support in case of a pullback.
Glad you enjoyed Montreal and some of our great restaurants.
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