CAT - pattern to remember and play

This is the kind of play I like, see how the 1st 5 min bar held, came down a bit but not to the bottom of the 1st 5 min bar, a bit of pullback and off it goes again above support of 85 on daily.

remember this pattern and you will see this works many times, higher probability...

KRFT play this morning

Only reason to play was because it kind of looked like a double bottom (it was not in actual sense) but it bounced off the support level and I got in on the next bar high, These pull back plays are risky and may not work since it came all the way back to support, it has higher probability to work if it remained on the top side of the 1st 5 min bar, In this case, it came down to the low of the 1st 5 min bar and breached it momentarily...

FLR play this morning

Check out the FLR play this morning, again the same pattern that I play on pull back, stops are generally below the prior 5 min low, this play got my attention because, it tried to go down and it held 60 whole number. I played this for some profits, another reason to start small was it is close to reversal time 10am; Played good but didnt go high as I expected to the high of the day.

GILD trade this morning that made me tons

Good stock with good earnings. This was a pull back play, the only thing I didnt like about this play is that the 1st bar closed half way which means a bit of weakness or lack of strength on such a strong day. If that 1st 5 min bar held good and then we had this pullback, I would have liked it better.

But still played it and added on the way with exits near the high of the day.

FB - why I dont play such patterns

Check out how the bars are pointy or spready, there is no clear bar. It I dont like to trade such stocks. See how one bar is red one is green, no clear direction. Though on the daily, it looks clean, I dont like such patterns. Dont trade

Visa trade - how you can play it later too

This is one way to play it at open, the way I usually play it, start above the 1st bar 5 min high, then exit when it goes below the prior 5 min bar low.

Since 1st 30 mins are very volatile, you can also play such patterns much later. See where I have put B2/S2 on the 5 min chart, play on a small pullback and exit as usual. Your stop is always low of the prior 5 min bar.

PRU trade today, see how effective such plays are

Another trade, see the patterns that I play. It is the same pattern repeated over and over again, start on the 1st 5 min bar high, with stop being below that, add to your position (if you wish, need experience with this), since your profits can be bigger and so can your losses.

THen exit as you go on the way.. Such plays work so much better. Check how it opened high above the support. Excellent trade