daytraders after market lounge 23rd july, page-6

Hi Trees, Night Crew.

Trees, hope your relie is OK.

Lioness, thanks for supplying the food tonight.


DTs
+IPL Some bad news, the stock gets trashed resulting in a nice bounce trade.
+BBG All trades should be like this. I asked an Italian friend once what "Spaghetti alla Puttanesca" meant. She said it was called that because it was "easy, quick, cheap and tasty". Who am i to argue? Anyway this 6 min trade was the perfect puttanesca trade.

Always an issue as to where the bottom of a given down move will materialise.
Since I only became aware of the BBG move quite late, I hadn't been watching the depth so I had to try something and I tried fibs. Hi to Lo (pink circles - as per chart) didn't seem right - 31c way too low. Tried a fib extension - the blue lines on the chart. To do this you first calculate the fibs first between the most recent Hi/Lo (first two blue points), and move them to the next low ( the third blue circle). Bought at 37.5 (chased) sold at 41. Quick and Tasty

Screen shot from a bit earlier in the day, so doesn't have closing price.

Bear in mind that I'm not an expert on Fibs or charting - except in this sort of market - when everyone is an expert in everything :->


Still cold....



Have a great night everybody