I discovered this one at the end of the trading session. I entered short on the break of a very weak, bearish bar that is sort of hanging from the previous day low line. Although my target was the 38% fib extension, I exited as soon as I detected buyer strength. And I should have gone Long at that very moment, like Jamie did with the e-mini trade yesterday.
4 comments:
Anarco,
Nice one! I like how it formed an inverted cup and handle at the PDL. Extra confirmation like in Trader X's trade today.
Tyler
Thanks Tyler!
Yes. I saw that inverted C&H, but the stock was so extended that I did not expect more than the 35% fib extension.
Cheers,
Anarco,
I see the one you are talking about that developed over the last couple of days. I just saw the mini one pretty much right before you traded it. The cup was from 13:15 to 14:25 and handle from 14:25 to 14:40.
It hit the 100% Fib Extension and then the 138% before turning around when you got out. I have been trying to look for multiple confirmations on charts and that just popped out to me.
Also, thanks again for the critiques yesterday. I am paying attention to the bigger picture (or trying to at least).
Thanks,
Tyler
Halliburton has perked up three of the last four days at the close of market and then continues to decline the following day.
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