March 10 - SLB -JPM

What a great day! I have meetings starting at 1pm PST but I wanted to post a few trades. Note that there is still half hour to go, so the charts are "unfinished."

JPM gapped up and printed 3 very bullish bars at the open, but I did not see an entry. I thought that price would retrace 50% from the initial swing low to the high and that would have matched $18. However, JPM printed a doji just above $18 so I decided to jump in. The draw back was that R1 was just above the high of my trigger bar and could act as resistance. Price took off after my entry and I exited in full at $19.00.


SLB was a beauty. The second bar is an IB (but leaves a higher shadow). The third bar fills the shadow of the first and second bar and closes above R1. The draw back here was that the PDH could act as resistance. My first entry was on the break of the 3rd bar high. Price took the PDH and printed a NRIB (doji) at the base of PDH. I liked very much that formation so I added to my original position. I took a partial at R2 and exit the rest at $40 (important PP).