Long-time reader/contributor ExEngineer e-mailed me today, wanting to share a trade with all of you. I’ve posted it below. He has a trading blog, but I’d also be happy to start posting his trades here, anytime he wants. The more styles and viewpoints I can represent here, the better. Especially if it’s from fairly new traders (like myself!) who are learning something new about trading every day.
As with my trades, and Zoomie’s, any feedback or questions are always welcome. And if you would like to have your trades posted here, just ask!
On this trade on Level 3 Communications, Inc. (Nasdaq: LVLT), ExEngineer says:
This was a quick one. Green line is my entry at break of 2nd bar low ($5.46), target was 15 min opening range low ($5.33), with a stretch target being the fib extension below ($5.10) if it acted right. Stop (red line) above 2nd bar high at $5.57, also above the OR high and the 38% retrace. I liked the descending 5 ema too. The only red flag was that strong first candle after the gap down. Whadda ya know, it rallied and stopped me out. Anybody want a surefire system? Fade my trades. :P
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| LVLT |  |  |  |
October 24th, 2006 at 7:33 pm
What happened to DAILY
“Stocks That Could Hit New 30 Day High” list?
October 24th, 2006 at 7:40 pm
Ex Enginneer,
I see a lot of support on daily as well at $5.40, where it opened today, and bounced on 3rd candle. Food fer thought.
October 24th, 2006 at 7:42 pm
I need more schoolin, I can’t spell engineer. Ha.
October 24th, 2006 at 7:44 pm
@Space4u2go: My schedule didn’t permit me to post one yesterday, but the one for today is up now. You’re welcome! :-)
October 24th, 2006 at 8:15 pm
Thx Richard :)