Date entry: 10-MAR-10
Trade: Long HAS April 2010 $35 Puts - 5 contracts at $2.85 each,...
Set-up: 10-Mar-10 set up on Hourly chart on %R retest.
Confirmation on both Accel band and %R on 2-MAR-10 at 10 AM
Conditions: Efficiency Ratio, Stochastics, MACD, and ADX/DMI are all very bullish
Re-Entry: none
Exit strategy: if 37.48 is violated on hourly chart.
Target for profit taking: when position reaches $500 profit
Stop loss: close below $37.48 (%R Retest bar's low).
Time Frame: Prepared for 2 weeks holding period.
Where found: Sizzle index
Current P/L: $200
Emotions:
This was very difficult as HAS has been in an uptrend for a few weeks..with no retests on the daily chart and very few retests on the hourly chart. No news. This is in essence a short term trading not necessarily a day trade but very short term. Also these are closer to being at the money rather than very deeper in the money.
