5 minute chart
(Double Click Picture for a Larger View)
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Stock:CCL
Entry Bar:7
Time Frame:5 minute
Entry Green Line:34.95 SHORT
Stop Red Line: 35.19
Result: .44 to .54
Setup Grade: B+
Notes:Nice red bar at the 10:00 AM reversal time and at the top of Daily chart confluence. Again patience and waiting for a setup. I love the way the red bar engulfs the previous green bar. Scale as you go. Many times I target the 20SMA and look to get out quickly when I am going against the trend of the stock. Could also be played off the 20SMA as a 123 pullback.
Time Frame:5 minute
Entry Green Line:34.95 SHORT
Stop Red Line: 35.19
Result: .44 to .54
Setup Grade: B+
Notes:Nice red bar at the 10:00 AM reversal time and at the top of Daily chart confluence. Again patience and waiting for a setup. I love the way the red bar engulfs the previous green bar. Scale as you go. Many times I target the 20SMA and look to get out quickly when I am going against the trend of the stock. Could also be played off the 20SMA as a 123 pullback.
* 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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