The first chart is the daily for
ATVI, from Briefing.com
gapper list. It was active in
pre-market, but more importantly it was testing the all time high which was just shy of the round number $30.00.
ATVI tested $30.00 on 3/15 but was too far from the rising 5 period EMA. We had 3
NRIBs, the last of which was NR7. Still, my trigger number was $30.00 and the next bullish green stick closed on it. Textbook
Trader-X gapper setup. The fact that it was trading in the daily spot was a bonus, and incentive to stay in the trade as long as possible. I took a partial at the 38% Fib. extension of the previous day low to the base ($30.00) for a 1 pt. gain, and closed the balance
EOD.
The first chart is the daily for ATVI, from Briefing.com gapper list. It was active in pre-market, but more importantly it was testing the all time high which was just shy of the round number $30.00.
ATVI tested $30.00 on 3/15 but was too far from the rising 5 period EMA. We had 3 NRIBs, the last of which was NR7. Still, my trigger number was $30.00 and the next bullish green stick closed on it. Textbook Trader-X gapper setup. The fact that it was trading in the daily spot was a bonus, and incentive to stay in the trade as long as possible. I took a partial at the 38% Fib. extension of the previous day low to the base ($30.00) for a 1 pt. gain, and closed the balance EOD.
6 comments:
I take the trade at the same time... but got out way to early on this nice setup
JF,
I might have done the same, if I hadn't noticed that it was trading at all time highs.
Strong breakout are not the norm on this bear market. I new to daytrading. Thank you for youre blog, an excellent way to learn DT.
Jean-Francois David
Quebec city
JF,
Merci pour les paroles généreuses et bienvenue sur le blog.
I know this is in your blog, and you have answered 100's of times (sorry), but what are the 3 moving average parameters you use?
No problem Todd,
The main three MAs I use are 5 ema (pink), 20 ema (dark blue), and 50 SMA (green). The pale blue line on this chart is 10EMA. But I'm going to remove it, too many lines.
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