Shared by
d_zimmy_BOWS
Was going for the red/green move. Also a flag pattern right at the red/green price too. It had a good bounce from earlier but no follow thru on the red/green.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2014-12-05 14:11:32 | LOCO | buy | $25.360 | long |
| 2014-12-05 14:12:21 | LOCO | buy | $25.360 | long |
| 2014-12-05 14:43:06 | LOCO | sell | $25.171 | 0 |
Comments
kunal00
2014-12-07 21:21:03
its already retraced the whole gap down so ur reward is 0 at that point.. look at where it opened.
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Hey Dale, I was writing on someone else's trade last night, if you're talkin about a bows red/green play, i don't think it meets the criteria (pg 88 in the book) LOCO had a green/red move in the morning that may have been proper (because the previous day was down...I just don't know if it was down enough) but when you think about it...a stock that opens green, goes red, then goes green again, just sounds choppy. Kunal said something I think about...it was something like collecting the evidence to make your case. In this case, LOCO is tanking on the daily, It opened green, but sellers took control and sent the stock red, the stock bounced it's all time low to retrace back up to near yesterdays close at 11:30, tried again at 1:30, with several candles having wicks on top and couldn't hold 25.40, finally does break 25.40 but is rejected on the very next candle, and also the morning range between 9:30 and 10am is additional resistance (besides yesterdays close)
This may bounce at some point, but it'll be easier if the chart is cleaner.
BUT!!! back to the red/green....if ya got your own red/green move like ToddM that's workin for you....nevermind.
Good luck and have a great weekend!
(btw... I'm commenting cuz I took Kunal's directive to do so at heart, and I'm getting a lot from it. I hope you do to.)