Well, not everything goes according to plan. XING was a rocket this week, but I didn't see it in time. I have drawn in a new channel that shows a potential FTT to explain what happened, but I really don't see the volume to support that as an FTT. Maybe there are some tools that I'm not using that would have helped me here...
And of course Spyder's suggestions did very well. This one was to the day exactly. He has mentioned that he uses many more tools than I do currently, and has a whole lot more experience. Something to strive for, however...
The end result of learning to use channels over the last year or so is that I am very convinced of their usefulness (and especially FTT's). The problems I had this week were with execution and lack of conviction. Looking back at these charts it's hard to believe I didn't have a very profitable week. At least I know what I need to work on! All comments are welcome! Thanks, TNG
I bought REDF this morning, and had STEC from a previous day. I still own STEC, but sold out of REDF when it came back to b/e for me. Looking at the 30 min chart (which is what I use for exits) there seems to be a glaring FTT that I missed.
I honestly couldn't make much sense of the 30 min chart for GIGM. It seemed to run up and then go into CCC for the rest of the day. On the daily, however, it may have been prudent to trim the position or exit it entirely when it hit the RTL of the big down channel. I missed that one too, however, and sold for a wash today on it. Thanks, TNG