Spike - Ever Heard of This?

[Gord 10]

Hello everyone. :ciao: I have been lurking for a month or so and am enjoying what I am reading in this message board. I used to post a lot on MBs but have laid off for the past year or so.

 

But today something happened that I have never seen or heard of before.

 

About a month ago I had a trade running with a target of 10% just to get it out of the way. I day trade and wait to set my targets as the trade develops. Well soon after I entered the trade the stock spiked exactly to my target, stopped out, and I ended up with a nice 10% profit. I thought it was just a coincidence that it spiked exactly the amount of my target and that it actually stopped out for a profit. I just wrote it off as a serendipitous fluke.

 

But it just happenned again today. Twice in a month. This time it was a 2% target with a 2% spike.

 

Has anybody ever heard of this before for a retail trader?

[throughthemud 10]

Well I can't tell how you develop your price targets but it's definitely not rare for someone who is good at trading (retail or professional). If you check out my fx elliotticians thread I've set a few targets that have been hit to the pip.

 

In any case, keep up the good work!

[Gord 10]

Well I can't tell how you develop your price targets but it's definitely not rare for someone who is good at trading (retail or professional). If you check out my fx elliotticians thread I've set a few targets that have been hit to the pip.

 

In any case, keep up the good work!

I am not suggesting that my target setting strategy had anything to do with these trades. These were one second spikes that when I examined the first one with a range chart turned out to be three spikes to the same level in that one second and my trade also exited with three seperate sells of equal amounts.