Monday, April 20, 2009

Wedge Short - BKC

Setup 5 minute chart

Result No follow through

(Double Click Picture for a Larger View)
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Stock:BKC 5 minute chart
Entry Bar: 4
Entry Green Line: 17.27 SHORT
Stop Red Line: 17.50 or conservative High of the day 18.01
Result: scratch trade to small loss depending on where you have your stop.
Setup Grade
: B
Notes: Down day, weak stock all over the board, no follow through. Stick to your stop and come back another day with a small loss.

* 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.

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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