Monday, March 30, 2009

Gap and Go Short - PBR

2 minute chart...stop placement

5 minute chart entry

(Double Click Picture for a Larger View)
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Stock:PBR
Entry Bar:2 Five minute chart
Entry Green Line: 30.84 SHORT
Stop Red Line: 31.12
Result: .05 to .25
Setup Grade
: B
Notes: Due to wide range looking for an alternate stop placement using 2 minute chart. This presents more risk. Scale as you go, stop to entry where you would have been stopped out. Didn't run all day like the rest of the market. Small gainer.

* 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