trades - week beginning 2nd.march, page-2

  1. 2,511 Posts.
    lightbulb Created with Sketch. 184
    BHP, ORG,still short, one green, one red.

    WOW, last Friday WOW had a big gap down and later recovered most of the move down on the same day. Hence, this morning, just in case WOW followed a similar pattern to last Friday, I set up a trailing upper stop. Consequently, when WOW did gap down again today, and later recover again, my upper stop was hit and my WOW trade was closed for a modest profit at 3555. By the end of the day WOW closed at 3570, hence, my trailing stop saved me 15 cps.

    NCM,I am still short, but in the red. Unfortunately last week I traded this one on the pog pullback in USD, rather than my usual trading signals. However, as mentioned last week, I also didn’t acknowledge the fact that while the pog pulled back last week in USD, it remained flat in AUD. In addition, I did not put sufficient weight onto the Ukraine scenario, and now the pog has increased again. If I can get out of this trade even I will be lucky, but the probable outcome is that my stop will be hit for a loss before too long.

    ANZ, CTX, WBC, opened new shorts on these three today. The chart setups on these three were almost ideal. However, I opened these shorts, albeit with modest trade sizes, perhaps one day early for the following reasons.

    • The XJO opened down this morning, thus confirming the short bias discussed on the world indices thread.

    • The GA, Global Analysis, suggests that the global market could take a tumble tonight. The DAX has already opened 2.5% down.

    • My trading decisions are not solely based on TA, but a combination of TA, FA, and GA.

    FXJ and SEK, I had a look at FXJ, SEK, and several other ASX200 stocks that closed last Friday with very high RSI values. None of the high RSI stocks that I looked at had a chart setup that complies with my trading criteria and style. However, as some traders trade the gaps left in the chart, I watched with interest to see what would happen to FXJ and SEK today. FXJ closed flat, and SEK was down only 1.52%. Hence, I will park consideration of gap trading for now at least.

    Short Watch,I like the chart set up for the following stocks, all of which I have on short watch at the moment. AAD, BLD, DMP, IGO, IIN, MFG, and NVT.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.