5 Minute Chart
(Double Click Picture for a Larger View)
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Stock:NE
Entry Bar: 2
Time Frame: 5 minute chart
Entry Green Line:40.48
Stop Red Line: 41.44 conservative or 40.74 more risky
Result: up to 1.60
Setup Grade: B
Notes: Here is a great example of letting a winner run as you scale out. The day before took a small loss on a gap and go short. Today, with the timing of the one minute chart, took a nice winner that is still running. One could use the more conservative stop at the high of the day or use the one minute chart for a more risky/high reward trade. Scale as you go and be sure you are out at the end of the day.
Time Frame: 5 minute chart
Entry Green Line:40.48
Stop Red Line: 41.44 conservative or 40.74 more risky
Result: up to 1.60
Setup Grade: B
Notes: Here is a great example of letting a winner run as you scale out. The day before took a small loss on a gap and go short. Today, with the timing of the one minute chart, took a nice winner that is still running. One could use the more conservative stop at the high of the day or use the one minute chart for a more risky/high reward trade. Scale as you go and be sure you are out at the end of the 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.
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