Friday, February 20, 2009

Wedge Buster - PNW

5 minute chart

(Double Click Picture for a Larger View)
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Stock:PNW
Entry Bar: 4
Entry Green Line: 29.32
Stop Red Line: 29.48
Result: .16 to .55
Setup Grade
: B+
Notes: I just missed a huge winner as I was stopped out by a penny after scaling out and bringing my stop to entry. Should have left my stop at entry but left it at 29.25 and walked away. Taken out at .26 then it dumped. Oh Well and the damn thing is still dropping as I post. Has been that type of trading week.

* 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