PBR gapped down and then rallied. It took out the highest close from the day before (white line), and R2 (blue line). I entered where indicated, and closed half my position at R3 (yellow line) and held the other half until the end of the day.
Thanks for all of the comments on my "Trading Platform" post - I am trialing several options this week and will let everyone know what I decide to do. If you have additional comments, don't hesitate to post!
6 comments:
First of all ty for good educational blog. I have a question about R ,how this R can be calculated?
I know that you usually trade gappers and sometime enter just below OR High/Low.
But on this blog, you post mostly of trade that cross OR High/low. And it line up around 12 to 2pm.
What percentage of these new trades of entering at/above OR High/Low today/Previous day you trade now?
Nice reversal. I like using 13/50 ema's on 5" charts, 5/13 on 15" on gappers.
I love this set-up, but only find a few every month. How many do you catch, and is there something you scan for? Thanks for a great blog.
I was just checking the old Trader X blog and got the link to this one. I am glad you are posting Tom! Looks great so far.
I tend to find a few a week. But I miss a lot more than I find.
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