Thursday, February 5, 2009

Gap and Go Short 10 minute - TNA

2 minute Stop placement

5 minute setup confirm

10 minute chart - entry

(Double Click Picture for a Larger View)
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Stock:DLTR
Entry Bar: 2
Entry Green Line: 36.25 SHORT
Stop Red Line: 36.87
Result: 1.14 to 2.10
Setup Grade
: B+
Notes:Nice bar on the 10 minute with confirmation from the 5 minute chart. Large stop and so using the 2 minute chart gets a more realistic stop but makes the trade more riskier. Scale out save some till close with stop at entry.

* 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