CFD short few days only on WPL,
strategy based on book ' Street Smarts' by Larry Connors & Linda Bradford Raschke
1. Look for a new 20-day high
2. Must be greater than 4 days since previous high
3. Short sell order -a few cents below this old high as a break-back correction
4. Hold into close or next day only
Place stop-loss just above new high of same day
5. Target should be sensible
In this trade I shorted 400 shares
Comment:
My target is 2290 ( +0.70 c) because the spread cost 8 cents so a little higher than my projected corrective target based on previous corrections....
Trade closed: stop reached
