5 minute chart
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Stock:CAT
Entry Bar: 2 (would have passed see notes)
Time Frame: 5 minute
Entry Green Line: 60.35
Stop Red Line: 59.24
Result: passed
Setup Grade: B-
Notes: Strong market and and hammer off the daily's 200sma made this an intriguing setup. But with the previous days run up and crazy market as of late.... I would have passed. This is a great example of being picky on your setups especially in these fast moving markets. If you took the trade you could have pulled out a winner by scaling out and sticking to a strict trade management plan.
Time Frame: 5 minute
Entry Green Line: 60.35
Stop Red Line: 59.24
Result: passed
Setup Grade: B-
Notes: Strong market and and hammer off the daily's 200sma made this an intriguing setup. But with the previous days run up and crazy market as of late.... I would have passed. This is a great example of being picky on your setups especially in these fast moving markets. If you took the trade you could have pulled out a winner by scaling out and sticking to a strict trade management plan.
* The setup grade is based on rules outlined in my business 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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