14 Dec – Long SOLF (Solarfun Power Holdings Co. Ltd.)
Dec 16th, 2007 by Trader-15
Praise to the Sun God “Ra” (or Apollo if you so wish …)
SOLF consolidated into a symmetrical triangle on the daily chart after a strong upward move. Today (coincidentally), the 5 min intraday chart also formed a triangle around 12.40 pm. I decided to scale-in.
My reservation about this setup : The candle with the largest range and volume on the daily chart is RED !
Trade Plan
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17 Dec ~11:14 am EST
STOP Triggerred. Loss -3.4% Trade closed.
Note:
Interesting that I was watching the pre-market this morning and SOLF was trading for a while at ~ +1.87% (to my entry price). I did think about reducing my exposure by 50% since the futures were weak, but did not act on it. Well as is often said .. … such is life – c’est la vie !