Friday, April 20, 2012

Gap Fade Short - WLT

Daily Chart
 

5 Minute Chart
 
.
Stock: WLT
Entry Bar: 3
Time Frame: 5 Minute
Entry Point: 66.92
Stop: 67.65
Exit Goal: 66.10
Result:out 66.10
All or Nothing Result: All
Notes: I like how it gaped under the previous days high with the market.  Nice tail on 1st 5 minute bar and waited for break of 5 minute low. Wanted to exit before the Whole. Could scale as you go and shoot for gap fill. I played it safe with market up.


* All or Nothing means to place a trade, set a exit goal and a stop, and not to manage the trade unless it’s the end of the day. Feel free to post any trades you made today that you would like commented on.

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