Post from a Reader - Gap Fill & GO

Here is a post from a reader. Nice Trade!! The following is all comments and charts from the reader.

5 minute chart - WYNN

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Stock:WYNN

Entry Bar: 2
Entry Green Line: 72.87 short
Stop Red Line: 74.50
Result: 1.22 to 2.12
Setup Grade: B+
Notes:

As I said in my comment, today was a target rich day. Here is a gap-fill-n-go (I would have graded it an A- if the first bar wasn't so wide):

WYNN opened with huge volume and immediately starting closing the gap. The daily shows resistance at the opening price, so good alignment there.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

One Minute chart WEDGE - ITUB

1 minute chart

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Stock: ITUB

Entry Bar: 4
Entry Green Line: 19.99
Stop Red Line: 20.06
Result: sold gap fill 19.66
Setup Grade: B+
Notes: Working on updating my business plan with my one minute charts. The setups not much different then the longer time frames except I use different exit and stop points. My share sizing is different as well. These are not for new traders only experienced traders. I like the one minute charts because I crave action in the morning and see setups develop faster. I also have alot of experience to reconaize what I am looking for and make quick decisions.

I have explained over and over it takes patience to find the correct setup. Start with the longer time frames, learn a setup or two, and practice your patience. I have always said the best traders know when to sit on their hands.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap and Go Stopped out - ACN

5 minute chart

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Stock: ACN

Entry Bar: 5
Entry Green Line: 37.97
Stop Red Line: 37.67
Result: Stopped, no juice
Setup Grade: B+
Notes: Here is one that just didn't happen even with a positive market day and break on the daily. Small lose, its all part of the job, just move on to another day.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Post from a Reader - AZO short

I got this from a reader who purchased my business plan some time back. He took AZO short yesterday, 9/23. I added his notes, entry and exits points. Patience pays off, nice trade. I added the 15 minute chart as it set up there as well.

5 minute chart


15 minute chart- setup as well

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Stock:AZO

Entry Bar: 15 (5 min)
Entry Green Line: 145.84 SHORT (see notes)
Stop Red Line: 146.6 (high of trigger bar 14)
Result: .24 to 1.52
Setup Grade: B+
Notes: This short had the resistance of the 5EMA the whole way. I sold short at 146.08 because it was jumping around all over the place and I thought I could get a better price (than 145.84) and I did, setting my limit order a little higher. I sold half my shares @ 1R, sold 1/4 @ 2R and just could not leave well enough alone and covered the other 1/4 @145.84.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap Fade Short - STX

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Stock:STX

Entry Bar: 2
Entry Green Line:15.99
Stop Red Line: 16.17
Result: out at previous day close...15.68
Setup Grade: A-
Notes:

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

A - one minute chart

1 minute chart

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Stock:A

Entry Bar: 11
Entry Green Line: 29.01
Stop Red Line: 28.87
Result: .33 to .37
Setup Grade: B+
Notes: I really enjoy trading one minute charts, they are tough but can set up nicely with PATIENCE. This could have been a 10 minute gap and go as well for a small winner

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap Fade Short - HBC

Daily


One minute chart

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Stock:HBC

Entry Bar: 6
Entry Green Line: 59.85 short
Stop Red Line: 59.92
Result: .26 to .30
Setup Grade: B+
Notes: Extended on daily, small risk

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

30 min outside range breakout - BUCY

5 minute chart

Daily Chart

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Stock: Bucy

Entry Bar: 15
Entry Green Line: 34.25
Stop Red Line: 34.13
Result: .34 to .42
Setup Grade: B+
Notes:

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

15 minute candlestick breakout - POT

15 minute chart

5 minute chart - setup nicely here as well

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Stock: POT

Entry Bar: 14
Entry Green Line: 90.60
Stop Red Line: 90.27
Result: up to 2.59 with 3 hours to go.
Setup Grade: B
Notes: Did not take this trade as I only traded the first hour of the day. As I reviewed my trades this afternoon I see I missed a nice trade that was on my radar. Setup nicely on the 5 and 15 minute chart.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

TEVA 1 minute chart - Inside Bar breakout

1 minute chart

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Stock: Teva

Entry Bar: 4
Entry Green Line: 51.70
Stop Red Line: 51.62
Result: .24 to .30
Setup Grade: B+
Notes: Big gap down, nice green candles, scale as you go.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Great Sports Weekend

Here is a non day trading post.

As many of you know I am a rapid Philly sports fan and this was a great sports weekend. Phillies win 3 of 4, Penn State takes care of business, and my beloved Eagles come up big. (plus my 3 fantasy football teams won!)

Here is a great scene from the Movie Invincible. Much like the movie Rudy its about an average man with a big heart who believed in his dreams and made the Philadelphia Eagles as a walk on.

This is the last scene where he reads the letter of his ex-wife who said he could never obtain his dreams. He takes the field and then makes an amazing play.

This scene is a testiment that in life the best revenge is success. If your having a run of bad luck, struggling in life or day trading or just getting hit hard by life.....dont cry why me, dig down deep, keep moving, surround yourself with good people, and hit life back hard and you shall succeed.

Enjoy the clip. I may start doing more of these to mix up my trading post.

15 minute candlestick breakout - SU

Setup

Result

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Stock:SU

Entry Bar: 5
Entry Green Line:34.32
Stop Red Line: 34.18
Result: .13 to .37
Setup Grade: B+
Notes:Stick to your plan, scale as you go, get that stop to entry.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Sling Shot Short - SU

Setup

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Stock: SU

Entry Bar: 9
Entry Green Line: 34.45
Stop Red Line: 34.69
Result: .08 to .28
Setup Grade: B+
Notes: Could have gone long earlier... see previous post

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

SLB 1 minute chart - Inside bar breakout

Daily Chart

1 minute chart

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Stock: SLB

Entry Bar: 4
Entry Green Line: 60.02
Stop Red Line: 58.81
Result: .26 to .58 and just missed another dollar more
Setup Grade: B+
Notes: Exploded at the open, not for the faint as heart but nice risk/reward..when I get around to updating my BP will add these in.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

123 Pullback - RDS/A

5 minute chart

Daily - post breakout

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Stock:RDS/A

Entry Bar: 4
Entry Green Line: 57.55
Stop Red Line: 57.42
Result: .61 to .79
Setup Grade: B+
Notes: scale as you go, still moving after breaking out on the daily

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.