Friday, February 8, 2008

020808 - MFE - 15mins - Loss*Paper

Symbol: MFE
Type: Long
Result: Lost -1R

  • The market hasn't closed yet, but I want to make this post now since I have tons of meetings this afternoon
  • MFE gapped up this morning with a long Upper Shadow
  • It tested the Opening Range High later in the morning but retraced
  • I thought it found Support from the rising 5eMA, with an Inside+NR7 combo
  • I entered Long during the 11:30 candle when prices broke the Opening Range High
  • It retraced beyond my Protective Stop about an hour later
  • An 1R lost

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