This is the first time I've traded an h pattern. Jamie and Anarco swear by them, so I was pretty confident when I saw this pattern set up in FWLT. The target of the pattern was about 18.2, the optimistic target was 18, filling the March 23rd gap down. The breakout bar was nice but lacked volume. The move slowed during the Bernanke speech at noon, but it wasn't seeing any volume and was weak relative to the market so I held on. I exited (early in hindsight) for the following reasons for a 2.6R win:
Setup: 75
2 comments:
Nice job. I like the h for shorts almost as much as the C&H for longs.
Thanks. I'm going to be watching for these in the future.
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