Support and Resistance Trading Forum

Re: Homework *PIC*
By:David W Doering
Date: 1/22/2008, 2:39 pm
In Response To: Homework *PIC* (Alan C.)

Hi Alan,
You beat me to it! Nice job! My original numbers were very close to yours (yes,really!lol) and I figured that would be Erich's trade also (I've been following him for quite some time now).

The second part of the question is, how would I trade this chart. I took a little bit of a different course here and based my trade on a fbwt reversal and tightened up the entry a good bit. I'm allowing for a possible retest of the 20MA after the reversal candle and would sell on a limit after that with my stop across the 20MA. I'm counting on some overlap and could possibly get left in the dust however, but if I can manage it during the day I can adjust the entry. As it is I'm just below a signifcant line for the sell and with any luck it'll be a good hit'n run trade. The exit target may also be tightened a bit and still be quite profitable.

Note that this trade is counter to the Weekly and Monthly trend, which is a no-no, so I consider this to be a quick scalp.

Great trades to you!

Dave

Responses To This Message

Re: Homework *PIC*
David W Doering -- 1/22/2008, 10:46 pm
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