Candlestick Trading Forum
keyword search

Candlestick Trading Forum        

Steve's Trading Diary - October 2006


10/18 Bought NRPH. It didn't do too much on Wednesday but it didn't pull back any. We're still anticipating that it could break out to the upside. Buy this one on any positive trading, especially if it comes back up through the $47.20 level, which was the high for Wednesday. That would tell us that the Bulls were still in this transaction. 10/19 It traded higher on Thursday and can still be bought. We're anticipating the next move could be up to the $55 area. Buy this on any strength. Now use Thursday's low of $46.40 as your stop. 10/20 It consolidated but came right back up to the top of the trading range on Friday. Still look for it to break out. It's obvious that the investor sentiment is starting to build back up again. 10/23 It's still trying to come up. It needs to see a pop to the upside. We don't want to see it opening lower on Tuesday. If it gaps down, close out the position immediately. It needs to form a strong candle to break out of its current trading range. 10/24 It's still trading in its upper trading range. We'd like to see it break out big to the upside. Now use any trading below the $46.25 area as your stop. This one needs to be trading higher. 10/25 It's still trying to come up out of the recent consolidation. Look for a breakout to the upside. We don't want to see any trading below the $47 area. If it comes back down through that level, close out the position immediately. 10/26 It's still trying to form a Rounded Bottom. We're hoping it breaks out to the upside very soon. Continue to hold. 10/27 It tried to break out but formed a Doji. It needs to open flat or higher on Monday and continue higher to continue to hold. Remember that the trend will move in the direction of how it opens after the Doji. 10/30 It opened lower and closed a little bit higher than the open. It's still in a nice, rounding uptrend. We're still anticipating a move to the upside. 10/31 continue to hold. 11/1 It didn't show anything decisively one way or the other. It's still in a slow uptrend. There were no sell signals on Wednesday. Use any trading below the $50 area as your stop. It needs to be trading higher from this point. 11/2 It's still in a slow uptrend, continue to hold. We don't want to see a dark candle at this point. More than likely it will trade sideways for a couple of more days until the 20 day moving average catches up to it. 11/3 It's still in an uptrend after the big move up, continue to hold. Use any trading below the $50 level as your stop. It should still be in an uptrend. 11/6 It traded up on Monday and is trying to move up through the recent high. Continue to hold. We'd like to see it break out to the upside. It still has about 5 or 6 points left in this move. Now use any trading below the previous day's open as your stop at around $51.40. 11/7 It's still in an uptrending channel. The pullbacks over the last couple of days have been indecisive. Still look for it to break out to the upside. 11/8 It's still in an upward trend channel. Notice that as it pulls back, it's doing indecisive trading. It needs to see some more upside movement in the next few days. 11/9 It has now come back to the 20 day moving average which breaks it out of the upward trend channel. If it doesn't hold the current level on Friday with a positive open with higher trading, close out the position. If it trades lower, come out of the position. 11/10 It formed a Hammer/Harami right on the 20 day moving average. We'd like to see it open higher on Monday. If it opens lower and trades lower, close out the position. 11/13 Hold, it should be bouncing off the 20 moving average. 11/14 It formed a Hammer/Doji right on the 20 day moving average. Look for it to start moving higher. It needs to open higher and trade up to continue to hold. It should not trade back below Tuesday's low of $48.53 if it is showing that the Bulls are in control. 11/15 It's still hov

 

Candlestick Trading Forum