Tuesday, May 17, 2011

Trade review 5-17-11

I got some of these plays right today...



Easy money as a gap up at the hod fell soon after the open to go green to red, which continued to fall in the morning and went sideways the remainder, closing down 25% today.


Another easy one as a gap up effectively crapped, the hod printing on the initial noise candle. After a quick green to red, a bounce failed to take out the early high, and it fell back under. Decay continued evenly all day and it closed down by nearly 21% today.


I liked this a lot in some cases long, but the short would do with a good set up, which this effected. A gap up in effect crapped, with the hod printing on the initial noise candle. A clear fail of 1.20 yielded a short entry, and it never looked back. Last morning it gradually rose, but still ended south by over 12% today.


Except for the initial noise candle, this faded steadily, as I suspected it might. A big gap up, with the hod on the next to first candle. 2 short entries arose. At lunch, when it began to trade under the opening price level consistently, and late afternoon when it actually fell under the flat line outright. Dropped over 34.5% today.



This almost looks like a win, but it's a loss. The reason is that most shorts who would have entered would have lost a bit of money. A gap down went sideways and uppish, then fell under the opening price level late morning. An entry short then lost money because then it gradually rebounded, closing down by over 1.5% today. The close was above the open, but negative due to the gap. This daily doji like print was a short trap.



Arguably a win, better called a push given the huge gap down which suggested a flat stance. It began to trade under the opening price level early and gently decayed most of the way, closing red by over 38% today. Much of this was lost in the gap, but more than enough was not that most shorts banked.


Another unpleasant gap down that makes this one a no play push for most, even though it looks like a win. After it began to advance at once, it filled and greened, we soon fell back under the flat line, but it took a while to get under the opening price level, and when we did it just went sideways and uppish. It closed lower than it opened, but that was a bit deceptive due to how the price action went. Red end by nearly 5.5% today.

Daily record: W-4 L-1-P-2


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