Shorted RIMM in the same area as yesterday's long (blue line). After breaching the blue line, RIMM recovered it, but not for long. A red hanging man foreshadowed further weakness and I waited for confirmation before shorting just in time for the late day swoon.
NVDA was a pivot point trade off of an inside bar. It got off to a great start but retraced sharply before making its way back up and eventually tagging the PP. The daily chart below shows where I get the PPs from. The target was derived from January's early swing low.
Shorted RIMM in the same area as yesterday's long (blue line). After breaching the blue line, RIMM recovered it, but not for long. A red hanging man foreshadowed further weakness and I waited for confirmation before shorting just in time for the late day swoon.
NVDA was a pivot point trade off of an inside bar. It got off to a great start but retraced sharply before making its way back up and eventually tagging the PP. The daily chart below shows where I get the PPs from. The target was derived from January's early swing low.
4 comments:
3 x RIMM = great!
It's great when you can score with the same stock over and over again!
nice trades. I was a little late in catching NVDA but it also looked good on the 5 min chart as well.
00NR7,
Agree - Better entry possible on 5 min. - break of 3/5 following 2 inside.
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