Monday, June 4, 2012

15 minute breakdown - PAY

Daily Chart
 
15 Minute Chart
 
.
Stock: PAY
Entry Bar: 2
Time Frame: 15 Minute
Entry Point: 34.84
Stop: 35.24 or use the 5 minute chart for a smaller stop (35.17)
Exit Goal: scale out near .50 and ride down to near 34 for a bigger goal with weak market
Result: scaled out and stopped on trail out of 15 minute candlesticks
All or Nothing Result: partial
Notes: Week market overall, and week market early in the day. Nice narrow range daily bar and break of consolidation on 15 minute chart. They are not all this easy. It comes down to putting in your homework. Scanning Daily charts, seeing what the market is doing overnight and the short term trend and going with the markets direction. 


* All or Nothing means to place a trade, set a exit goal and a stop, and not to manage the trade unless it’s the end of the day. 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