CHRW - consolidation pattern. Don't like it much since it broke the 1st 5 min high. If it did not do that, and then it consolidates, then it is a better pattern. See how it worked.
Protect it above consolidation 57.5
Wednesday, May 8, 2013
FIO short trade
FIO trade. How to play it short is explained on the charts. Works very well since it went down from the support on daily. 14 was a great support and it broke down with confirmation.
You always start small and add heavy and exit when you get your target
You always start small and add heavy and exit when you get your target
ALXA counter trend
This is a counter trend play. CHeck out how you can profit from such plays. Again the 1st 5 min bar is the most powerful. You need a stock to gap up and far from support. Here the support is 5.00. It opened close to 6.5 which is a huge gap. Works well on such gaps that opens far from the support.
If the 1st 5 min bar is weak, start your position and add in your favor exiting as shown
If the 1st 5 min bar is weak, start your position and add in your favor exiting as shown
Z - 2 pattern on short sell
Z - same 2 patterns that I showed on the prior stock - STWD.
But this one is on the short side
Pattern 1 - the power of 1st 5 min bar, This was a perfect play since it went down on the 1st 5 min bar and that was the support on daily. Perfect short sell.. on the 1st play
Pattern 2 - pullback play - here you short sell below the prior 5 min bar as shown and stop is shown on the 5 min chart. You protect the prior low of the day.
But this one is on the short side
Pattern 1 - the power of 1st 5 min bar, This was a perfect play since it went down on the 1st 5 min bar and that was the support on daily. Perfect short sell.. on the 1st play
Pattern 2 - pullback play - here you short sell below the prior 5 min bar as shown and stop is shown on the 5 min chart. You protect the prior low of the day.
STWD - 2 patterns
Here you can see 2 patterns working beautifully.
Pattern 1 - the power of 1st 5 min bar, THis was a perfect play since it went up on the 1st 5 min bar and that was the support on daily. Perfect buy.. B1/ S1 is buy/sell on the 1st play
Pattern 2 - pullback play - here you buy above the prior 5 min high as shown and stop is shown on the 5 min chart. You protect the prior high of the day.
Pattern 1 - the power of 1st 5 min bar, THis was a perfect play since it went up on the 1st 5 min bar and that was the support on daily. Perfect buy.. B1/ S1 is buy/sell on the 1st play
Pattern 2 - pullback play - here you buy above the prior 5 min high as shown and stop is shown on the 5 min chart. You protect the prior high of the day.
MCK same pattern
Same pattern like EA, this is what I am talking about.. Now the stock is going up again as I write this blog. Check out this pattern and always play it.. same on the short side as well.
When you have a strong 1st 5 min bar , you get 2 bar pullback or consolidation, play on the high of prior 5 min bar. See the difference in this play.. you will not enter on any 5 min bar, you will enter on the high of the prior 5 min bar and add to the position as it goes in your favor..
stop is below the prior 5 min bar.
When you have a strong 1st 5 min bar , you get 2 bar pullback or consolidation, play on the high of prior 5 min bar. See the difference in this play.. you will not enter on any 5 min bar, you will enter on the high of the prior 5 min bar and add to the position as it goes in your favor..
stop is below the prior 5 min bar.
EA Trade
This is the pullback play. Always remember this pattern. Strong gap up, good 1st 5 min bar, pulls back a little, 2 bar pullback is excellent than 1 bar pullback, play on the high of the prior 5 min pullback bar.
In this case you will enter above the 2nd red bar, where I entered. Then take profit on the prior highs and hold on to some position. protect whole numbers.
Don;t be too gready..
In this case you will enter above the 2nd red bar, where I entered. Then take profit on the prior highs and hold on to some position. protect whole numbers.
Don;t be too gready..
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