Wednesday, August 25, 2010

Gap and Go 15 minute - CREE

Daily Chart

15 Minute chart

5 minute chart

(Double Click Picture for a Larger View)
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Stock:CREE
Entry Bar:2
Time Frame: 15

Entry Green Line: 53.49 SHORT
Stop Red Line
: 54.01
Result: up to .83
Setup Grade
: B+
Notes
: Ugly market and ugly daily chart. Scale out as the trade goes your way and move the stop to even. Made a little and then stopped out at the entry price. Nice setup just didn't the push down I was hoping for. Use the 5 minute chart to time 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.

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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