ILMN was Jim's pick from the comments last night. The first chart is the daily timeframe with the blue line indicating the base. The second chart is the 3 min. timeframe which I used for my entry and exit. You can see that the base from yesterday afternoon is tested on the open. I hesitated at first because there was virtually no volume on the first two 3 minute bars. I guess maybe it's NR7, at least it felt that way when the third bar let loose.Great pick Jim and thanks for sharing!
If I have time later tonight, I'll post my gapper trades - JCOM ended being a fade (short/stop/long) and QCOM, which was also on the Briefing.com gapper list this morning, was a nice PP setup.
2 comments:
Jamie,
You're welcome... pales in comparison to the great material you share everyday.
I traded ILMN today, but missed the initial BO. I did get a good mid-day exit at 49.69. I watched DWA, but could not get in synch.
Nice trading/pos reversal on JCOM. OONR7 would have loved the 50% MR retracement, other than it being a gap fade.
Jim,
Too many stocks setting up around the same time. I missed DWA as well.
The OONR7 retracement style is difficult to master. I need more practice, but the JCOM trade was fun.
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