Showing posts with label Base and break. Show all posts
Showing posts with label Base and break. Show all posts

Wednesday, July 22, 2009

July 22 - CELG - FCX

First CELG chart show price trading in a range for the past 2-3 weeks.

Second CELG chart shows price breaking above the range and making a decisive move higher however price struggled at R1 and eventually failed. I made a bit on the way up and shorted a bit on the way down to the top of the range.

FCX was a B&B trade. The target was PDH. Price made it there but I exited a bit before.

Thursday, July 16, 2009

July 16 - XLNX


XLNX gapped up $1 yesterday and it gapped down $1 today, but today the buyers were more awake and where decided to move this forward. Green bars are always much higher than red bars. I could not find an entry in the morning but in the early PM it started basing around $20 (which is a significant round number). I entered a few cents above $20 and exited a few cents below S1.

I also traded CNQ off the 1:30pm offsetting bar at the base of PDH (15min chart).