Thursday, January 31, 2008

013108 - CNQR - 15mins - Observation

Symbol: CNQR

  • Here is another trade that I would have taken had I been watching it unfold
  • CNQR gapped up during opening, painted a very strong bar
  • It followed by 2 consecutive Inside Bars. A weak bar followed by a stronger bar
  • The 4th bar was a Hammer-wanna-be. The Upper Shadow was actually too long to be considered a Hammer
  • And looking at it again now, I also noticed that the 4th bar also failed to closed above the Opening High. Something that I missed during real-time.
  • But at that moment, had I been watching it unfold in real-time, my entry would have been the 4th bar, when it crossed the Opening High
  • I would have Stopped Out by the 8th bar, and the prices did seem to have gain enough strength to go any further

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