Here are a couple of quick trades from Wednesday. One was a $610 win, the other much bigger. Let’s look at the smaller one first. Here’s the chart for Target:
There’s not much to say about this. It was a textbook setup, straightforward entry, and holding out for the clear reversal added a few cents to the exit. Getting out at $116 would have been equally valid and still produced $500 profit.
A much bigger win came from pharma stock NKTR. Here’s the chart:
I have little idea about who NKTR are or what they do, and neither do I care. What matters to me is that their stock price tanked, there was a massive gap and a nice opportunity for a simple day trade.
Again, the setup was textbook, nice and clean. I almost got out at $24, but there was little in the way of effort to push the price back up, so it was worth hanging on. The real reversal came around the $23 mark, which is how this trade ended up making $1310 profit. It was quite a long one for me, taking the best part of an hour. Still, all done by lunchtime.