Symbol: NITE
Type: Long
Entry: The 17th bar
Exit: The 21st bar
Result: Gained +0.5%
- I had 12 stocks on my list today, and only this one convinced me to make a move.
- Had it not for the long Upper Shadow of the 7th bar, I would have entered somewhere along the 9th bar.
- Because of the 7th's Upper Shadow, I wanted to make sure the prices covered the Upper Shadow before I even start looking for a potential entry.
- the 14th - 16th bar set up some kind of an Upper Base (see yellow line.) Although there were no Inside Bars, or Volume indicators, I decided that I would enter Long if the prices cleared the yellow line
- It happened on the 17th bar, and I thought I hit the Jackpot looking at the way the 18th and 19th (beginning) had gone.
- I should have exited when prices fell below the Opening price during the 19th. But it wasn't easy because the next Fib. Extension seemed, at one point, so within reach.
- I waited and the prices began to fall. I adjusted my Stop to just below the 20th, and it executed almost immediately
- If someone can explain to me what 19th - 21st bar mean, please leave a comment. They gave me big question marks!
- Overall, I'm just glad that I have a 'plus' day!
No comments:
Post a Comment