5 Minute under the 200SMA
15 Minute Pullback Setup to 20 and 200 SMA
15 minute Chart - Result
(Double Click Picture for a Larger View)
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Stock:TSL
Entry Bar:5
Time Frame: 15 minute
Entry Green Line:23.07
Stop Red Line: 23.33 over 5 minute 200 SMA
Result: up to .60 2R plus
Setup Grade: B
Notes: Weak on the daily after prior day red bar. Nice pullback on the 15 chart after gapping down. In checking the 5 minute chart wanted to be sure it agreed so moved stop above 200SMA. Holding all day. Nice example of making sure several time frames match up. Held all day and it work out as patience pays....but stick to those stops
Time Frame: 15 minute
Entry Green Line:23.07
Stop Red Line: 23.33 over 5 minute 200 SMA
Result: up to .60 2R plus
Setup Grade: B
Notes: Weak on the daily after prior day red bar. Nice pullback on the 15 chart after gapping down. In checking the 5 minute chart wanted to be sure it agreed so moved stop above 200SMA. Holding all day. Nice example of making sure several time frames match up. Held all day and it work out as patience pays....but stick to those stops
* 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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