Monday, August 4, 2008

15 minute Breakdown - SLX


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Stock: SLX 15 minute chart
Entry Bar: 6
Entry Green Line: 82.92
Stop Red Line: 83.47
Result: .55 to 2.92 - about 3R holding and scaling out into the close
Setup Grade
: B+
Notes: Nice breakdown candlestick of the 15, market weak and nice support from the 5 ema, let it run as you scale out. DRYS a nice Gap n Go short as well on the 10 minute chart

* The grade is for the setup outlined in my buseinss plan & not for the end result. Feel free to post any trades you made today that you would like commented on


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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