Today I was compelled to take the trade for the following reasons:
1. TRV held up quite well during the first part of the session while the rest of the market was selling off.
2. Once the sellers release the pressure, TRV made a decisive move above the $49 line which has been forming a base for the past few days.
3. After taking $49 (also the PDH), TRV paused and printed a series of IBs against the upsloping 5 EMA. The trigger bars was a NR7, but I used the previous day high as my trigger (plus a few cents) and the PDH as my stop loss.
My exit was a the R2 line.
3 comments:
Hey Anarco,
A very nice setup above key resistance. That one did not show up on any of my scanners.
Hi Jim~
I am starting to include NAZ stocks in my scans and I find that I am catching new ones. But I am still tuning and fine tuning.
Cheers,
Mostly NYSE stocks? Curious why. I have a WL of insrs and many reversed with the market 10:30 and some high betas. Might be a good confirm signal along with the insr etf KIE: aig lnc afp gnw hig met pru pgr xl pl all ace trv mfc afl ago. They rock
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