PSX - when not to trade

PSX pattern shows when not to trade. If it breaks the 1st 5min chart, then do not trade it, even if it works out as seen here. These patterns will burn your fingers more times than giving you profits.

GILD play

GILD play, same 5 min pattern that I play. This one you have to start small in case there is a pullback. Then add in your favor and exit on profits

DDD 5 min

Another 1st 5 min holding play. Always play such patterns. 1st 5 min holding, small pullback, awesome way to get $$
Works most time

BKS drop

A very interesting chart. These are not the kind of trades that can happen daily, but there are few charts where such things can happen due to news/economy/ sector etc.
Why it happened is not important, the main issue is , how to play it?

When one drops very quickly for 3-5 bars, most likely it will get a bounce of about 50%. Entry is key here. You have to let it consolidate (base formation) then jump in full position with v tight stop and exit at 1st weakness.

AMBA trade

Here is the AMBA trade where you can add and exit in parts as the trade works in your favor booking profits as you go. You never completely exit till I have shown in the charts. These are mainly money management techniques that you can adopt

CTSH short

Worked out very well with a start below the 1st 5 min bar and adding it to the position and lowering the stop for the play. Excellent opportunity to short such trades. See the entry/exits on the chart

BBBY short

This one cannot be played at open since the gap was not good enough to mark it on the charts. But this gave a very good opportunity on pullback. Another reason not to play this at open is because the 1st bar was a green bar and normally you would like it to play long , but this went down below that 1st 5 min bar quickly and came back, did not take the high of the 1st 5 min bar and gave a good opportunity to short it. See the charts for entry/exits