Monday, August 23, 2010

Wedge Buster - POT

1 minute chart

5 minute chart mini chart

Daily Chart

(Double Click Picture for a Larger View)
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Stock:POT
Entry Bar: 2
Time Frame: 5 minute

Entry Green Line: 151.64
Stop Red Line
: 151.10
Result: up to 1.75
Setup Grade
: B+
Notes: Stocks up pre market and so was this stock...see daily chart. Not the perfect wedge but if you scale down to the one minute chart it gives the go for the trade. Scale out as you go. Was stopped out of remaining shares at my entry price.

* 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