Wednesday, January 28, 2009

Opening Range Breakout - Barrick Gold Corporation (USA) (Public, NYSE:ABX)


Both ABX and GG carved out the h short setup in the opening range. ABX filled the gap from last Thursday-Friday, but GG did not. We talked about ABX filling the gap a couple of days ago.

ABX set up a second entry - long out of an inverse H&S type pattern.

SNDK swing long as discussed over the weekend. Perfect inverse H&S on the 3 minute timeframe. I partialed ahead of the FED, swinging balance as per chart below.

It so much easier to find good setups when the markets BO. Easy setup on the Nasdaq futures.

4 comments:

addtrader said...

Hi Jamie,

Great trades. Your ability to take multiple trades at or near the same time just shows how well you have you scanning and system set up. A while back you posted a screen shot of your set up, with how you page throught, etc., during the day. Can you post a link to it here in the comments I haven't been able to find it.

Thanks,
Formerly ADD Trader

Jim said...

Jamie,

Yes, so much easier to find good setups today. I still had BIDU on my focus list (from daily range contraction comments). It gapped and based ~at previous 2 day highs. The explosion was sweet.

Did you catch the gap and retest of the PDH in RIMM?

Jamie said...

Thanks ADD,

5/28/2008 was the date of that post. Just type in screen shot in the top left corner search bar and it will come up.

Jamie said...

BIDU sweet indeed Jim!

I caught some of the move in AAPL but passed again on RIMM. Also missed POT/AGU. Today was like a kid in candy store, but it's impossible to catch all the moves.