Friday, January 23, 2009

30 minute outside range breakdown - SI

5 minute chart

(Double Click Picture for a Larger View)
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Stock:SI 5 minute chart
Entry Bar:11
Entry Green Line:51.04
Stop Red Line: 51.51
Result: even to .64
Setup Grade
: B+
Notes: Like the setup, scale out get a little and get that stop to even, Stopped out with a small gain..I call it a single. Market was turning.

* 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

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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