5 Minute Chart
(Double Click Picture for a Larger View)
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Stock:NFG
Entry Bar: NO Trade
Time Frame: 5 minute
Entry Green Line: 22.99 short
Stop Red Line: 23.55
Result: NO TRADE
Setup Grade: B+
Notes:Gapping down near a support line and break point, under the 200 sma (purple line on daily chart). Would have entered if it broke its whole number 23. Many times I will wait if my entry point is near a whole number this can be support/resistance. Rather miss out on a small amount then get burned big.
Time Frame: 5 minute
Entry Green Line: 22.99 short
Stop Red Line: 23.55
Result: NO TRADE
Setup Grade: B+
Notes:Gapping down near a support line and break point, under the 200 sma (purple line on daily chart). Would have entered if it broke its whole number 23. Many times I will wait if my entry point is near a whole number this can be support/resistance. Rather miss out on a small amount then get burned big.
* 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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