ANH was from my Esignal leaders list. I applied some Trader-X and OONR7 trading strategies on the entry. Trader-X always waited for price and the 5 ema to come together and he liked to buy following a candle that finished strong. OONR7 uses Fib retracements and allows for a maximum 62% retracement followed by bullish movement above 38% level. The exit is pure WSW - 3 WRBs.
9 comments:
Jamie, if the price just chops around below your entry, how much time would you give it before closing the trade? Or would you let the stop take you out?
PN,
If price doesn't move in my direction but setup remains good, I will give it some time to consolidate sideways. However, long drawn out dead zone trade is not my favorite. Still, I hate to close a position and then watch it go my way. Sometimes, I take a partial if there is too much risk involved. I leave original stop intact.
Jamie,
Best of 3 worlds!
Jamie,
Why not break of 7th bar hammer high which closed above 38%? Not close enough to 5EMA? Thanks
YR
YR,
Yes, plus I felt the setup was a little too choppy at that point. Also, on a $6 stock, I like to have a very narrow stop.
Thanks Anon
Jamie,
CGX come up on your scan and it's 7 dollar drop, then doji reversal? Short pattern of the day.
BL,
Nice - Is that the gap down scan? I ran scan and saw way too many hits, so I just used leader lists.
Jamie,
CGX came up on Scottrade Most Pts. The manageable list even Br WL had too many gap downs. Love the dsx upgrade... what sympathy that sector shares with each other or is it empathy, or jealousy? GL
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