Monday, November 21, 2011

Trade review 11-21-11

I got some plays correct on Monday...



Opening on a gap down under support, this tanked from near the hod out of the open. It rebounded, but closed weak to end south by nearly 5.5% today.


A gap down open printed the hod on the noise candle, then it began a descent, decaying all day for shorts, closing red by over 22.5% today.


A textbook red to green long entry off a gap down debut led to a long entry. This continued to rise into the close, ending north by 6% today.



A gap down open fell on the noise candle, then successive early candles rose above the opening price, possibly faking out some longs, though it did not gap fill for additional confirmation. The bounce did not last long, though. Soon it decayed and gradually recovered, closing tepidly about where entry was likely. After commissions this would be a modest loss for buyers. Closed down by over 0.5% today.



A huge gap down precluded entry short. It fell early from there, but predictably bounced in the afternoon. Closed south by nearly 9.5% today in spite of that which was all lost in the gap. A no play.


Another big gap down precluded entry short. After the noise candle it began to rise, predictably. It resumed decay for hours shortly thereafter but closed strongly. Due to the gapper, it still ended down by nearly 7.5% today. A no play.


Longs were not faked out since the trigger arrived on the noise candle. This closed red and faded on successive candles. It rebounded, and almost triggered again late in the afternoon, but closed weakly. It ended up a bit less than 0.5% today. Another no play.

Daily record: W-3 L-1-P-3


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