Friday, February 02, 2007

Day Trade: Long OMCL 30-min chart

Entry @ $21.55 / 700




Entry : $21.55




Size : 700




Exit : $21.37




Stop Loss : $21.15




Risk : 0.4




P/L : ($126.00)




R : -0.45
A GAP trade method using the 1st 30-min cstick as the pivot candle. This gap failed to follow thru to the direction of the gap.

4 comments:

Tyro said...

MC,

Love your stuff. Shows how people can make great money without swinging for the fences. Just one question: you mention "pivot csticks" in many places (like an earlier FMCN trade). I've never heard this term applied to candlesticks before and suspect that the word "pivot" doesn't mean the same thing in this context as it does when talking about daily or weekly pivot points.

Or does it?

Can you comment on what you mean by a pivot candlestick?

mc said...

the 'pivot' would apply to any timeframe...basically, a pivot as where the dynamics/balance between buying and selling swings to one side and so you can see a move out of say consolidation or a trending stocks reverses.

mc said...

tyro, some people also call it trigger bar/candle

Tyro said...

Ahh... makes sense. Thanks.