Monday, November 29, 2010

Gap and Go short - GES

Weekly

5 minute chart

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

Entry Green Line: 49.60 SHORT
Stop Red Line: 50.19
Result
: up to 1.30
Setup Grade
: B
Notes
: while it looks like a bullish chart on the daily (which it is) the weekly running right into resistance on spike up. Looking to get out majority at the 200 SMA and let some run all day with stop at 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