Thursday, August 28, 2008

2 Trades Winner & Loser - 30 Minute Breakout - PCL

Smaller view - 5 Minute chart

Full Day View

(Double Click Picture for a Larger View)

Stock: PCL 5 minute chart
Entry Bar: 13
Entry Green Line: 49.11
Stop Red Line: 48.89
Result: .40 to 1.80 about a 9R trade!!
Setup Grade
: B
Notes: Scale out and let it run all day, 3 tight NR bars and then it broke out. A little under the OR breakout point but the support from the 5 EMA and 3 tight bars (dynamite bars) made it worth the risk.
-
Trade 2 - 123 Pullback 15 minute chart
Here is a losing Trade that didnt work out -

Nice pullback to 5EMA and 15 outside range high
Stopped out, didnt quite reach the point in which I would pull up my stop - ended up being a winner latter on. Always stick with your stop. Entered high of 7 bar with stop below.
- Full View

3 comments:

QQQBall said...

friday

i bet you hit RIMM today?

How I Day Trade said...

nope didnt hit RIMM- sitting in KLAC and LRCX short as I write - both winners playing with the markets cash now

How I Day Trade said...

Dell also -short

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