Eyeballthecharts

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Eyeballthecharts

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    Pennon Long

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    matk

    Posts : 50
    Join date : 2010-08-25

    Pennon Long

    Post  matk on Fri Sep 03, 2010 1:04 pm





    Hi ALL

    Reason for Trade

    Weekly Trend up see chart L-H + HL-HH + HL

    Entry above weekly bias change on pull back and above HH & 566

    I waited for price to break conjestion between 8th and 29th of July
    Price has also broken abv Sept monthly PP . It would appear that upward momentum has resumed
    entry is set for PB to 50% of candle that is above sept monthly PP.
    Stop is placed just below this weeks bullish move at 566 wich is also an S&R zone.

    Target 649






    matk

    Posts : 50
    Join date : 2010-08-25

    TO THE PIP

    Post  matk on Sun Sep 05, 2010 4:17 pm

    Hi

    Pennon has triggerd me in to the pip & 585
    see fridays pin bar my entry is at the end of the tail

    Regards

    matk

    Posts : 50
    Join date : 2010-08-25

    Re: Pennon Long

    Post  matk on Wed Sep 08, 2010 7:50 pm

    Hi

    Pennon has moved nicely in my direction over the last
    few days has now hit res at 604 see chart. Lets see
    what happens will it breaK res???

    Regards


    Last edited by matk on Sat Sep 11, 2010 12:53 am; edited 1 time in total

    matk

    Posts : 50
    Join date : 2010-08-25

    Re: Pennon Long

    Post  matk on Sat Sep 11, 2010 12:52 am


    Pennon has broken res at 604 and monthly r1 but not
    moved much further.

    See chart



    matk

    Posts : 50
    Join date : 2010-08-25

    Re: Pennon Long

    Post  matk on Sun Sep 12, 2010 10:56 pm


    Moved S Loss to 600 locking in 14 points profit.

    matk

    Posts : 50
    Join date : 2010-08-25

    Trade Closed WINNER

    Post  matk on Sun Sep 19, 2010 12:29 pm



    Price moved sideways bouncing between 603 and 616 for a few days

    I was hoping price would continue in my direction as it was price broke downwards hit S Loss

    for .7 Risk profit

    Lesson Learned

    To split trades 75%/ 25% set a limit order at T1 prev high low
    or next weekly S&R. Leave 25% on the table at BE.

    on this one I would have exited at 612 an extra 12 points

    see chart


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    Re: Pennon Long

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