Did I draw this correctly?

Gapped down on open negated opportunity. Although that TL connected to Thursday's low is kinda iffy being a double bottom with Friday's low. I wouldn't use it myself.

But here is 5 minute chart with nice TL short after complete gap fill failed - overlapped yesterday's low but didn't reach close.
! PXD.png
 
Going on this chart alone and without the benefit of context: why would you think of selling here? The trend is clearly up. Perhaps there is something a little higher that you are looking at?
 
spooz said:
Going on this chart alone and without the benefit of context: why would you think of selling here? The trend is clearly up. Perhaps there is something a little higher that you are looking at?
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if you asking me. Nope.

Gap fill failed. Gud enuf once TL touch and go, and ShowMe signal added weight to it.

It's a 5 minute chart after all. So that is the trend in play, not Daily.
 
spooz said:
Going on this chart alone and without the benefit of context: why would you think of selling here? The trend is clearly up. Perhaps there is something a little higher that you are looking at?
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I’m not sure, still learning. Like Maxinger said, I guess I’m looking only at the right side of the chart not the big picture. Need to work on that.
On the other hand, I’m wanting to limit losses to 2 % of capital max, and so I put in a stop.I stuck to the plan.
 
PXD is an E&P company and is going to move as oil moves. Pay attention to the price of oil, and you better have a good idea of all the things happening that affect the oil price. If there is a peace deal in Ukraine this stock may gap down a lot. Be prepared for anything.
 
KGTrader4 said:
And if I said I need my finger on the sell trigger would I be correct?

View attachment 281219
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VERY Good upTrend\shallow good pullback/PXD
BUYers are buying intraday + hourly
WEEkLY support =244.777. YOUR chart looks fine.
REALLY depends on your cost basis\gasoline going down , oil also\short term.
50dma is support also, but while profits ride\ i dont want to ride all my ETFs down again to 50 day moving average or 200dma ...........................................................................................................:caution::caution:
 
SunTrader said:
if you asking me. Nope.

Gap fill failed. Gud enuf once TL touch and go, and ShowMe signal added weight to it.

It's a 5 minute chart after all. So that is the trend in play, not Daily.
More...

I think we are talking about different charts. As you say gap closed and failed. Definite sell. I was talking about the previous chart.
 
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