The first chart shows how AXP was trapped in a channel for the last week or so. I noticed that yesterday so I placed an alarm near the top and another one near the bottom of the channel.
The second chart shows how I executed the trade in the 5min time frame. I basically placed a buy order a few cents above the ORH (which matched the top of the channel) and my stop loss was the low of the previous bar. I set my target at the 38% fib extension drawing the lines from the bottom to the top of the channel, which made sense to me since that was the range in play.
6 comments:
A well set up trade and a trade well executed. I really like that analysis.
Trading a plan - nice Anarco.
Thanks guys!
I am spending more time in the planning phase these days.
That's a nice trade Anarco. How did you find it? Looks like that what's Jamie's box trade? I am one of your avid reader. Learning a lot from you. Thanks a lot for your trade post.
Thanks GD. Yes this Jamie's box play.
AXP is on my watchlist so it is one of the stocks that I follow during the day and I also their charts after the session.
Hi, Nice post! Would you please consider adding a link to my website on your page. Please email me back.
Thanks!
Harry
harry.roger10@gmail.com
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