This was very similar to yesterday's trade. The first part of the action is capitulation with increased volume, and then a "relatively" nice C&H. I played this one as a target trade to the S2 line, so I exit my full position there. I was a bit surprised when price moved above S2 and for a moment (12:15bar) it seemed like S2 would hold as support. But that did not last long; price immediately collapsed.
10 comments:
Anarco,
Nice trade. These capitulation setups you post look really interesting.
It looks like the second half of Jamie's round trips that he trades once in a while.
Is this something that you have come up with yourself or have you ever seen anyone else trade that way?
Hey Tyler~
If you refer to my August 26 trade on COCO, that post has the background info on these setups. I am just starting up with these ones, so there is a looooong way to go.
I like your DUG trade today. Congrats on that!
Anarco,
I remember the post now. I will review it again.
Thanks,
Tyler
105.25 was a Trader X 38.2% fibbo and good traget for exit of at least partials
nice trade
Thank you QQQBall!
I see it now.
Beautiful trade Anarco. Appreciate how you patiently wait for best setups and most of your trades are very good winners.
Great trading. I have been doing day trading for 6 months and still struggling.
Thanks Anon!
I am also learning. But six month is not a long time at all in this business. Some of the people that I believe have a good pulse on day trading having doing it for at least 5 years.
Cheers,
well i guess it wasnt exactly a traderX retrace... but odd how the work out anyway.
i was the last one to ever put any faith in fibbo... until i noticed how they seem to work.
QQQBall
great trade anarco.
Thanks Stewie. I also liked your FWLT trade this week.
Post a Comment