HD as an example here to show the 1st 5 min high play that I do. THis is how you do it, keep adding above the prior bar high and raise the stop. exit on prior 5 min low and just close position if you see it falling.
Another 5 min pattern. This one does not pull back but goes above the 1st 5 min quickly, In such cases just buy small at first and then add on every 5 min high putting the stop below the prior 5 min high as shown. This adds up very quickly and gives monster profits
Putting this as a nice 5 min pattern, remember this pattern, this is just an example. I did not play it, but generally this is the best pattern I like to trade.
Upfront - I did not trade it as this was not on my radar, looks like a one day news wonder. But generally if you had a lucky day and traded it, the best way is to go above the 1st 5 min over the daily support base
TOL long called at 9:41am and it has worked, but has not gone up a lot inspite of the fact that the market is doing so good. This is on a consolidated mode. SO sizing was important if you took profits on prior high
Called to short it, the reason is the 1st bar was big red, this is a faded gap, then short it on pullback. See how the small consolidated bars give a hint.
