Panic Zone Trader

On the break of the 15 min chart. ACB is now 42.25. Cover above 43.35.

 

This is one of the rare cases where i adjust the stop away from the market.

Pre market it was obvious I was going to get stopped out.

I moved the stop to 44.01, just in case we had a pop + drop.

I have a feeling that once OE is over, things are gonna fall.

 

Yesterday got down to the bottom of the panic zone channel, so I covered 1/2 the position at 40.15 (ACB 42.25). Still short the other 1/2 with stop at 42.25, just in case.


Will wait for a trendline break before going long.

 

short 100%, shorted at 41.25, on break of this trendline

http://quote.prophet.net//applets/j...0.print.gif&scope=common&host=www.prophet.net

 

Ok its the end of the month, I am now up 2.75% since the beginning of January, not quite the rate I want to be at. 2.5% a month would be sweet.

 

still short 100%. ACB 41.60.

Will look to lightten the load around $40 again.

 

Stopped out at 41.60. I'm waiting for panic zone signal again.

 

Damnn. Should've stayed short.


I think the lesson here is


When you are in the panic zone, take the first possible signal, to ge the best entry. This gives you a lot more breathing room later when letting the position run.

So now we are down in the panic zone, time to look to go long.

I want to see a bounce, then another selloff, creating a trendline to break later this week

 

Trendline break. Long at 39.50, stop is at 38.69. Panic zone tops out around $42ish.

 

Stopped out.

Redrew the trendline from the panic zone highs, when that breaks will go long.