This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Here’s a couple trades I have taken from my NR7 scan lately. Red diamond denotes NR7, Orange line is entry, Red is stop, Green is target, exit noted with arrow:
MCGC: Swing Trade 4/30/07 to 5/1/07
Trade Summary:
MCGC Short 100 Shares
Entry: $17.97, Stop: $18.17, Target: $17.00
R: $20.50, Exit: $17.60
P/L: 1.78R, or $36.50
Trade Grade:
CAH: Swing Trade 5/1/07 to 5/1/07
Trade Summary:
CAH Short 22 Shares
Entry: $70.02, Stop: $70.68, Target: $68.00
R: $14.52, Exit: $70.07
P/L: -0.08R, or ($1.10)
Trade Grade:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
May 1st, 2007 at 5:24 pm
[...] the low of today by a few ticks, with the stop on the opposite side of the candle, like I did for MCGC and CAH. I’d also look at the daily charts to get a feeling of longer term bias, whether long or [...]
May 3rd, 2007 at 4:00 pm
CAH broke out! I should have kept an eye on it.