Did three trades today. Shorted PCLN early on the break of the 60 min bear flag. It moved very nice but failed to hit my first target. This was a higher risk trade because of the bullish daily chart so I set the stop at breakeven when the market seemed to bounce.PCLN could be worth watching for a long swing as it could bounce some more and resume its daily uptrend. All depending on what the market will do the coming days.
The other two trades were great winners APKT did 3.5R and DLTR 5.8R for a total of 9.3R.
- really, really nice daily chart
- nice first move out of the open
- 1 min pace developing positive
- entry was okay, but the later entry after the flush around 17:30 would have been better
- don’t mess too much with the initial stop, wait for the first breakout of the range
- Patience was rewarded handsomely
- risk: 13 ct; reward: 46 ct; RW/R: 3.5R
- Great daily and weekly chart, nice gap out of consolidation
- Gap on good earnings news
- Missed the first entry, though I had it on my watchlist at the time
- Kept checking back for a possible new entry
- Nice 5 min bull flag was the setup
- Entry was just before the break of the flag after the flush move and the tiny 1 min phoenix (Toni Hansen)
- Based the stop on the 1 min setup, this often works if the entry is good, eg not too early like APKT
- First target was the 5 min bull flag equal move.
- Second half was closed when the trailing 5 min swing stop was hit.
- Risk 15 ct; reward 87 ct; RW/R: 5.8R.
