Thursday, November 24, 2011

Trade review 11-23-11

I got a few plays right on Wednesday...



A perfect red to green move entry long on the trigger arose here about an hour in. It stayed above the flat line and closed positive by nearly 5.5% on Wednesday.


I nailed this one and how! A gap down and fill red to green yielded a long, which kept rising most of the day. It closed off of the highs, but still positive by over 99.5% on Wednesday. No, that's not a typo!


A modest win for shorts when a gap down open began trading under the open after the noise candle. It went sideways much of the way, staying under the flat line on challenges, but closed weakly to end south by over 3.5% on Wednesday.



Sadly, this made more new yearly highs after the noise candle, drawing longs in, then it gradually decayed, going green to red. It stayed negative the rest of the way, closing south by over 9% on Wednesday.


This looks like a win on paper, but it is probably a loss with the price action sequence that shorts would have entered on. A gap down open under the trigger fell at once, then a rally failed to punch over. But anyone entering below the initial candle low on on the 1st 30 minute one lost, since it gradually recovered from there to close south deceptively by nearly 1% on Wednesday.



It almost seems impossible for it print with less sell volume than the time before, but it keeps doing just that. Fortunately, no bouncer longs were faked out, since this gap down printed the hod on the noise candle and fell from there consistently. It never challenged the flat line and closed down by nearly 6.5% on Wednesday.


A gap down which never triggered. It tried to fill the gap but failed. Then it headed down and sideways much of the remainder, before closing weakly red by over 7% on Wednesday.

Off record pick GEDU the merger play, closed unchanged with more coma inducing boring price action. Off my radar now, even unofficially. It could still pan out but too much patience is a bad thing in this game. Move on.

Daily record: W-3 L-2-P-2


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