NKE was an earnings gap which I highlighted in last night's post and
pre-market. I see an inverted C&H pattern. The first three 15 min. bars constitute the cup and the rest is a wide handle. The head fake was the clue that
NKE was ready to go. Took a
partial when it started to retrace. After the first reversal bar came close to the stop, I decided to give it a little wiggle room and moved the stop back up above $59.00. I didn't want to get stopped out for 10-15 cents because I still believed it would complete the measured move which it did after tagging $59.00.
V was
gapping lower in
pre-market. Similar Gap & Go setup as my BA trade yesterday. Took a partial as price approached $79.00. Almost got stopped out on those weird price spikes midday. As soon as price recovered from that episode, I said goodbye.
My beloved
SOHU carved out a bear flag and executed perfectly. Tried to stay in as long as possible as I thought this one might close on its lows. But when it looked like it might want to retrace back up to the
declining 20 period EMA, I folded.
NKE was an earnings gap which I highlighted in last night's post and pre-market. I see an inverted C&H pattern. The first three 15 min. bars constitute the cup and the rest is a wide handle. The head fake was the clue that NKE was ready to go. Took a partial when it started to retrace. After the first reversal bar came close to the stop, I decided to give it a little wiggle room and moved the stop back up above $59.00. I didn't want to get stopped out for 10-15 cents because I still believed it would complete the measured move which it did after tagging $59.00.
V was gapping lower in pre-market. Similar Gap & Go setup as my BA trade yesterday. Took a partial as price approached $79.00. Almost got stopped out on those weird price spikes midday. As soon as price recovered from that episode, I said goodbye.
My beloved SOHU carved out a bear flag and executed perfectly. Tried to stay in as long as possible as I thought this one might close on its lows. But when it looked like it might want to retrace back up to the declining 20 period EMA, I folded.
