Today's trade was a classic PA setup in DuPont.
Price made a Bearish engulfing at a swing high with MACD divergence.
It's a Dow 30 stock and the Dow also put in a D1 bearish pin bar which adds confluence.
I normally look for the intraday entry if I can find it (as you guys know) but this is a stock and I'm unfamiliar with their movements intraday so I played this one the old fashioned way.
Closed 50% for 83 ticks (when you factor in spread) at the FTA and I've now moved my stop to above the day high, looking for a run on the next D1 level that is marked on the chart.
Tom
Price made a Bearish engulfing at a swing high with MACD divergence.
It's a Dow 30 stock and the Dow also put in a D1 bearish pin bar which adds confluence.
I normally look for the intraday entry if I can find it (as you guys know) but this is a stock and I'm unfamiliar with their movements intraday so I played this one the old fashioned way.
Closed 50% for 83 ticks (when you factor in spread) at the FTA and I've now moved my stop to above the day high, looking for a run on the next D1 level that is marked on the chart.
Tom