Friday, January 9, 2009

30 Minute Gap and Go Breakout - COCO

5 minute chart


Daily Chart - breakout

(Double Click Picture for a Larger View)
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Stock:COCO 5 minute chart
Entry Bar: 7
Entry Green Line: 17.50
Stop Red Line: 17.28
Result: .43 to .78
Setup Grade
: B
Notes:Scale out, stop to even, don't be greedy. Nice break on the Daily Chart.

* 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.

Learn to trade gaps

3 comments:

Anonymous said...

When you chose this stock for daytrade you arent afraid from resistance on a daily chart around 17.35 - 17.90 from 09/19/2008? Do you think that this resistence is already too far ?
But nice priceaction (formation) especially when market going down.
Karel

Unknown said...

I mainly look 3 monthes back on a daily for intraday trades, swing trade and its a different story for me.

QQQBall said...

nice trade. 18.19 +/- was teh FE target... nice short point too!

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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