Thursday, January 8, 2009

Wedge Buster - ANSS

Wedge Setup 5 minute chart


The Play

(Double Click Picture for a Larger View)
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Stock:ANSS 5 minute chart
Entry Bar: 5
Entry Green Line: 26.60 SHORT
Stop Red Line: 26.80
Result: .23 to .44
Setup Grade
: B
Notes: take the larger stop, market was weak, weak on the daily chart as well. Scale out as you go, get that stop to even.

* 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