Monday, January 29, 2007

Day Trade: Long FMCN 30-min chart

Entry @ $82.59 / 700 ***late posting***




Entry : $82.59




Size : 700




Exit : $84.87




Stop Loss : $81.85




Risk : 0.74




P/L : $1,596.00




R : 3.08

This is a classic DUMMY trade setup. The first 2 csticks shows intense buying followed by NARROW RANGE csticks which offered low-risk entry for the DUMMY traders. Entry was on the 5th cstick on the break of the high of the pivot cstick. Sold 700 shares before the close.

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