Wednesday, September 30, 2009

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

(Double Click Picture for a Larger View)
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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.

Learn to trade gaps

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