Thursday, June 02, 2011

Trade review 6-2-11

I got some plays correct today...



Finally an easy clean win as a gap up fast went green to red and holds, never regaining the flat line. It continued to weaken, closing down over 16.5% today.


A gap up near the hod fell at once, soon going green to red. It never retook the flat line. It traded sideways and negative the res of the way, closing south by over 3.5% today.



This looks a like win, but many longs could have been stopped out after an early rise that looked promising. It fell green to red fairly hard, then rebounded, greening and never looking back. The price action sequence was the sticking point, as many who held to the close made money. Closed up over 4% today, but impractical.



A big gap up made this hard to trade for shorts. After the noise candle printed red, the 2nd one opened well down but closed solidly green and the follow ups all inched up most of the way, denying an entry. Closed below the open and negative, but still positive by almost 9% today due to the gapper. Deceptive greening.


Another apparent win on paper, which is a push due to a huge gap up open. This worked fairly well and some who played it on the 2nd candle early made money, since it continued to hold up, although it fell under the open in the late morning for a brief spell. Closed up over 6.5% today, but that was all gravy lost in the gap.


It's possible several shorts made money here, once the early moves up fell back under the open, but many also did no better than break even given how the price action proceeded. Closed unchanged relative to the previous session close in a daily doji like print, though the close was below the open today.


No fail at 0.90 and also no entry as I did not like longs unless it overtook the aforementioned level, and it never did. It did, however, continue to inch forward out of a gap up, coming closer to the key level. The flat line held easily, and it closed positive over 4% today. Shorts never had a play to enter.

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


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