Two nice plays in C and XOM

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  Yesterday’s play of the day came in C which I found on my Gap continuation list as a beautiful Tier III gap to the upside from Monday.  My entry came as C fell hard into minor support and triggered a 15 minute buy and I entered @ .91.  Price then bounced upward and then retested my entry area where I added to my play and reduced my stop to .65.  Price soon found the first target @ .97 where I sold 1/3rd of my shares.  Price went on to find my next target @ .14 and my final target near the end of the day @ .28 cents.  A great play that made the day profitable…

C 04152014
C 04152014

Today I had an outrageous play in XOM that I found on my 9:45 am wide range bar list.  I liked the play because price had gaped over 13 days of sideways consolidation on the daily.  I attempted my first play in the morning on a 5 minute buy but it soon failed, so I waited for something to trigger on the 15 minute chart.  Price action was narrow and sideways after the first 30 minutes of the day but finally price dropped below  the sideways consolidation and snapped back upward taking out the lows and potentially any future sellers that would prevent XOM from going higher.  This bottoming bar is taught in TPM II (now called ATS) and is known as a “money bar” which tells the Pristine trained trader that price is going higher, so I found myself entering just above this bottoming tail bar at .48 cents.  Price continued to consolidate in a nice tight range until 2:30 pm when XOM put in a second “money bar” where I added to my play and reduced my stop to .41 cents.  Price took off like a rocket hitting my first and 2nd targets of .75 and .85 cents.  Price finally broke out above $100 dollars but could not get above $100.10 and I found myself selling my last shares @ .85 cents near the end of the day.  

XOM 04162014
XOM 04162014

  

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