Wednesday, November 3, 2010

Gap Fade - PDE

Daily chart

5 minute chart with pre market

1 minute chart

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

Entry Green Line
: 32.85 SHORT
Stop Red Line: 33.25 using one minute chart
Result: up to .61.....stop at even or close at end of the day
Setup Grade
: B+
Notes
: Gapping into Daily chart resistance, and weak all pre-market. Dont see much of a push for anything until FOMC meeting today at 2. Scale out, stop to even.

* 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