Charts vs. Book
Just finished a long trade in JLL. I had been watching it for a while off the 50.00 level. Slowly it made its way up to a large order at 50.25, and as it printed I took a long position. The nyse book was somewhat thin, but the charts had all the makings of a great trade.JLL is still running as I write. I had a good trade in this one, but had I regarded the charts a little more rather than the book, I could still be in this trade.Notice the 5 period sma was never violated. If nothing has changed in the reasons for entry, which it didn't, then there is no reason to exit a trade like this. Rising 5 period, rising MACD, rising Stochastics. The charts said it all.Entered at 50.25, sold at 50.45,50.55,and 50.74. Combining the charts and the nyse book is a work in progress for me, which I'm trying to improve on.
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