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    Ashstead Group SELL

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    matk

    Posts : 50
    Join date : 2010-08-25

    Ashstead Group SELL

    Post  matk on Tue Sep 07, 2010 9:18 pm

    Hi

    Reason for trade

    Weekly trend down H,L-LH,LL-LH.LL

    Sell on pull back,

    Signal reversal bearish gapped up bar

    Confluence Weekly S&R level, Monthly R1 pivot and 78% fib and a rejection of a trend line what more
    could one want.

    Entry to be triggered 92.6
    Stop Loss 98.5
    target limit order 77


    matk

    Posts : 50
    Join date : 2010-08-25

    Re: Ashstead Group SELL

    Post  matk on Tue Sep 14, 2010 8:43 pm

    Trade Closed LOSS 1XR

    Stopped out of this, guess I should have waited for a bearish candle after the single reversal
    bar, that would have made an evening star a 3day reversal signal.{ better signal)

    I also did not pay sufficient attention to the huge reversal bar, rejecting prices

    see chart

    Lessons learned. I have to add here my trading plan is a learning journey, I shall be
    tweaking it from time to time , eliminating weaknesses and building on streangths.

    I will provide a summery profit/loss etc and as to how I believe I have performed after each set of 10 closed trades.

    avatar
    jopester

    Posts : 339
    Join date : 2009-11-18

    Re: Ashstead Group SELL

    Post  jopester on Tue Sep 14, 2010 9:09 pm

    That oversize bar looks odd. Was there a reason behind it, news release, broker update etc? I don't trade stocks all that often but were it forex I would have looked to tighten my stop a little way above the high of that bar.

    matk

    Posts : 50
    Join date : 2010-08-25

    Re: Ashstead Group SELL

    Post  matk on Tue Sep 14, 2010 9:25 pm

    Hi Jopester

    Thanks for your response

    Your right an oversized bar, I did recognize that at the time but had confidence in my set up so did nothing
    tighening my S loss would have been a prudent move.

    Another lesson learnt ( of many)

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    Re: Ashstead Group SELL

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