Friday, June 13, 2008

Tonto Trade - AAPL


AAPL is on my WL. Although the stock rally in the AM and managed to have 2 bar closing above the 20EMA, AAPL printed a very nice looking evening star (bearish reversal pattern) at 11:30am. Although I do not trade this pattern very often, today I decided to give it a go. Price moved my direction and AAPL cleared the previous day low printing a nice bearish bar and an IB below that line. I used the low of the IB to add more to my position. I took a partial at S1 and was stopped out on the next bar.

4 comments:

Tomer said...

Very well done!
5$ gain rocks man! I loved the way you did it, but did you see the pattern real time? or was it some stock screener software that helped you?

anarco said...

Thanks tomer!

No, at this point I do not have any scanning software. Some folks use Trade-Ideas, but I have not given that a try yet.

Anyway, I like your site and added it to the "Blogs I Read" list.

Cheers,

Anonymous said...

excellent stop-out there

anarco said...

I did not want to risk the profits of the second entry (or the first one) on a market reversal :-)