Wednesday, February 07, 2007

Day Trade: Long ICE 30-min chart

Entry @ $140.04 *** late posting***




Entry : $140.04




Exit : $148.00




Stop Loss : $139.50




Risk : 0.54




Gain +/- : 7.96




R : 14.74
This 1st trade is similar to the trade set-up I traded yesterday for this stock. A violent move down to the major support line in the daily chart and then a WIDE cstick reversal/bounce along support line. The pattern for the 1st trade can be considered as a FLAG. Entry was when price cleared the descending blue line. I closed the position before the end of the day.





Entry : $143.59




Exit : $148.00




Stop Loss : $142.50




Risk : 1.09




Gain +/- : 4.41




R : 4.05
The 2nd trade is a breakout trade when price cleared the resistance line at all time high. I closed the position before the end of the day.

6 comments:

Anonymous said...

Hi MC. what kind of charting service do you use? thnx.

Alex G.

Anonymous said...

Brilliant trade. You bot it $2 before me.

Alex G.

mc said...

Thanks man...you did very well as too. It is basically the same set-up as yesterday...bounce at support then it consolidated into a dummy or imperfect FLAG

CrazyTrain said...

Nice to see yesterday's snapshot posting of your actual day trades with prices.

Maybe you set a new trend.

Great trading.

mc said...

Thanks crazytrain.

Anonymous said...

MC, great entry! For those who have a hard time believing your entries, there was still plenty of time hop on the train. Keep up the good work. -TVH