Friday, February 29, 2008

Gap Fade - HLX

5 Minute Chart

Stock: HLX 5 minute chart
Entry Green Line: 32.37
Stop Red Line: 31.24
Result: 2.82 to 3.89
Setup Grade
: B-
Notes: Chased a little as I would have liked a larger gap to fill but very nice volume - Here are two good video's. First one on Google and pivot points.



* Grade is according my rules for each setup outline in my business plan. The grade is for the setup not the end result.

* Feel free to post any trades you made today that you would like commented on

3 comments:

Teddy DaRussian said...

hey quick question - what made you chose this as a gap fade, looks like it would be a good gap and fall on the daily chart (gapped lower than prev. support at 32.50 area) thanks for your time and help!

How I Day Trade said...

1st the wide gap down, and very nice volume on the candle. There was support at 31.50 - I look at the candle, if the candle was red on that type of volume then yes maybe a consideration for gap and fall.

QQQBall said...

wow, very nice gains. like ive said b/f, you really jump on them quick. i guess if i check the daily, this is gapping right into congestion/support?

nice trade.

QQQBall

Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE