Two non-standard trades
There were two interesting trades today - one early and one late. Interesting because neither are my regular entries.
The morning started with a gap that couldn’t hold. My oscillator was showing a DIVERGENCE from yesterday, but by itself I wouldn’t trust it. However the drop began by crashing through my two moving averages. This provided a quick exit point if the move did not continue. But it did, and nicely.
After a boring mid-day there was a breakout (11:30 Pacific) followed by a 38% fibonacci pullback that also stopped right at the resistance zone built up during the day. This did not give me the Stochastic oversold reading that I usually require (14/3/3 - not shown), but once again the fast moving average gave a close exit point if the trade went wrong.
