Energy has been in a strong bull run (check the 6 mos XLE chart). CHK offered a pretty decent flag at a time when they are fewer than they were a couple weeks ago. I simply bought the breakout of the daily. You could have set this buy stop a few days ago. The trade was never under water. A textbook breakout play, if only it were always this easy.
The daily chart with buy level:
The minute chart with the execution:
If only I had let more run, but it was early in the day and I wanted to book profits right away, make sure I got off to a good start for the week.
I also traded NPSP, getting a good early entry before the breakout; my other winner for the day. I traded XOM poorly for a decent gain, but was much to eager to take a profit, and I even knew it at the time; far and away my most painful trade of the day. I just did not want to give any away, so I left a good amount on the table. URG, BLTI, KEG and DEPO were trades taken with small gains or losses, nothing good.
No comments:
Post a Comment