My apologies for the recent neglect of the blog. I've been very busy. I'm sorry.
X was on my watchlist today because:
1) It is currently among the 100 stocks in my daily trading pool.
2) It was printing volume greater than 1.5 to 1 its 60-day average.
At 237, X formed an oversold (using the 8-period demarker indicator) hammer candle into an uptrending 50SMA on the 1min chart. At 237, the SPY was also printing an oversold condition into its uptrending 50SMA on the 1min chart.
I went long on the the open of the 239 X candle (after the 238 post-hammer bar printed a higher close). I exited the position on a close below the 1min 20EMA. However, X was, later in the session, able to rally to the 38 fibonacci extension (from yesterday's low to today's OR high)
Again my apologies for my recent neglect of the blog. I intend to return to regular posting this week.
No comments:
Post a Comment