I had a scratch day on Friday with a small loser in NKE and my small winner in FSLR. The Daily chart was “ok” looking but what got FSLR on my list was the 60 minute chart which looked as if a buy was setting up. Price continued to pull back for the first hour of the trading day but at 10 am reversal time FSLR had bottomed. My entry was above an igniting green wide range bar @ 59.99. Price moved up nicely for the next hour and then began to move sideways through lunch time. Near the end of lunch price did a minor shake out to below the base where I added more shares to my play and brought up the stop to 60.30. Price finally took off higher but there was never really any follow through as price again began to fade lower as I felt I should take my chips off the table which I did at 60.47. Price did recover but would have hit my raised stop by the end of the day as price sold off hard during the last 10 minutes of the trading session.
TraderHank’s most used Tags5 minute buy 5 minute Sell 9:45 am play 15 minute buy 15 minute sell AAPL AIG ALL AUDUSD Breakout C consolidation COST Counter Trend Day Trading EBAY ES FB FSLR Gap Gap continuation Gap play GILD HD Hourly sell JOY JPM LLY MET MS Options Price Action PSS Pull Back QQQ short Short play Sideways SPY TGT Tier II Tier III UAL update uptrend