Sunday, August 27, 2017

NGVT and PSTG 30 Minute Candlestick Trades

Trade: NGVT, strong gap up and nice red counter bar off the 5SMA. I prefer a goal of 2R and this was a quick winner (maybe in the trade 15 minutes) as the next candlestick was a strong push up.

Entered off Bar #: 7


Trade: PSTG, strong gap up and inside red counter bar off the 5SMA. I was stopped out on the low of bar 6 by .01 and then it proceeded to reach the goal of 2R two candlesticks later.  Could of entered off bar 8 as well.

Entered off Bar #: 4


MARKET DIRECTION 

SPY 15 minute 5,10, and 20sma:Up
SPY 15 minute 200 SMA: Up

TRADING PLANS 




* The market direction refers to when the trade was entered. Up is all three SMA trending Up, down is all three are trending Down, Mix is mixed or choppy market to then refer to 200SMA for preferred market direction)

* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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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