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.


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 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