Monday, June 3, 2013

P - when to start, add to position

P short pattern today.
One could have started this play shorting it at the low of the 1st 5 min bar. Start small as you want to make sure it goes in your favor. Then add to your position below the consolidation on the 1 min, in your favor.
Add to it again when it breaks the whole number of 16.

Your stop needs to be the whole number now and protect it. It is a soft stop not hard one (means do not place a limit order).
Exit on the volume peak and shown.

Learn such patterns. This pays a lot