Monday, November 15, 2010

Gap Fade Short - CL

Weekly

Daily

5 minute chart

(Double Click Picture for a Larger View)
.
Stock:CL
Entry Bar: 9:50 AM
Time Frame: 5 minute chart
Entry Green Line: 78.84
Stop Red Line
: 79.02 or 79.51
Result
:
Setup Grade
: B
Notes
: Market Trend is down, gaping into weekly and daily resistance. Nice run up on 5 minute chart. Can place stop one of two places. I like to use larger stops to give it some room. Scale out as you go.

* 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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