Wednesday, May 8, 2013

C trade at open and pullback

Check out how strong the trade was. Exactly went up from support at 48, buying over the 1st 5 min high was a great play and exiting position. Could have played it again on pullback / consolidation pattern.

Awesome trade.

DECK - dont like it

Though DECK worked, I dont like such pattern since it is below the support level on the daily. Such patterns are less likely or have lesser probability to work.

WFM Play

See how to play WFM and reasons to play it.. worked out nicely. the 1st 5 min bar low was never broken

AOL play

See how well AOL played this morning. Again same 1st 5 min play, short below the 1st 5 min and take profit as you go. Started going down from support close to 39.85
Only issue here is the daily has a lot of support on the left side, means the pattern may or may not work.
Better play would have been if the stock went up and took off from 40

CHRW - consolidation pattern

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

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

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