5 minute chart
15 minute chart- setup as well
(Double Click Picture for a Larger View)
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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.
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.
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