Tuesday, April 29, 2008

Gapper Dummy Trade of Day - Biogen Idec Inc. (Public, NASDAQ:BIIB)


BIIB was very active in pre-market (Trade-Ideas pre-market scan), however, it almost put me to sleep midday, as I waited for my sell stop order to trigger. BIIB could not close above the pre-market high (upper blue line) or the 10 period EMA (pale blue line). I set my sell stop order below the narrow base. My target was the ORL.

4 comments:

Anonymous said...

Nice trades Jamie. What did you use for your stop, the top of the trading range ~$62.10?

TJ said...

Exactly.

Anonymous said...

Jamie,
When did you start using 10EMA as well?

YR

TJ said...

YR,

A long time ago I used 10 and not 5. But then I read Trader-X and switched to 5. Now I like 5 on the 15 min., but I'm experimenting with 10 on 1 min and 8 on 5 min.