Highlighted Trades - 04/25/2024

We saw 6 trades today - all longs - across 2 tickers. Let’s check them both out.

Our winner today was SLB - we made 0.20% here. Initially, I like our first entry, but a few candles after we get in, the Kijun-Sen line spikes downwards. This is an indication that the stock price is testing a resistance level, which we see a bit before our exit. The entry is solid, but given that we were testing a level here, and our signals back this up, I would have exited early. I also would have been hesitant to accept the re-entry, but given we only lost 0.02% there, I’m not too beat up about it.

Our loser of the day was FANG, costing us 0.19% over the course of 4 entries. I like our first 2 entries, but the second 2 are a much harder sell for me. Our initial entry has a strong MACD, with the second entry having a weaker but still solid one. On our second 2 entries, MACD is technically positive, but much weaker - almost completely neutral. I’m fond of our first 2 positions, but I would have under-allocated the second 2 entries. If you’d avoided them entirely, you could have cut losses to just 0.12%.

Overall, it was a fairly quiet day for our system. That’s all I have for you today - thank you for reading, and happy trading!