Today was a very busy day in the trading room, with the members logging several trades in AAPL and alternate entries from the trading plan in EL, CPB and ALB and a good looking setup in NUE that was siimilar to our morning gap setup.
Trades in AAPL were logged by members from 161.81 to 161.47, short from 161.05 to 160.85 and 160.81 down to 160.55. These trades ranged from .34/share, .20/share to .26/share. This is exactly in line with the targets we look for on the Nasdaq supercaps
Campbell’s (CPB) made an alternate entry move from the trading plan down from the 48.07 confluence level toward the entry price. One of our members reported having his profit target achieved at 47.76 for an approximate .30/share profit opportunity.
ALB had an early entry opportunity that went straight to the target But even without the first entry, the second planned entry at 124.42 traded up to within pennies of the profit target and a planned profit exit was triggered at 124.68, the 50% to profit target.
NUE setup like our opening gap trade, the Baltimore Chop, although did not gap up the required two standard deviations. But it is a good example of what we are looking for with an entry over the lowest bar and profit target closer to the opening bar.