Does anyone use this setup?

I look for those set-ups as well and have found that a high volume move up, followed by narrowing price range and diminishing volume is usually followed with a continuation of the previous trend. I use it on swing trades and for day trades using one minute bars. For multi-day positions, I've found it to be the most reliable pattern of the ones that I look for.
 
Tony:

I am curious, did you cover your 3 energy positions before 2PM? If so did you flip? I trade energy everyday that's why I wondered :-)

Thanks for the comments!
 
Hitman,

Can you believe this dog?

Covered short at 37.20 y'day ... closed at 33.94 today and bidding 36 after hours.

I made the MSFT play (bottom fisher setup) today. Unfortunately, not only that I didn't close it, but I kept adding to it and went long overnight a bundle.

How do you spell pain? I will learn tomorrow :(

Good trading
 
@TonyOz
Why did you pick MSFT ? It really had a nice, steady move throughout the day - did you enter at the pullback at 10am ?

I had a winner in ADSK, some small losses in ABC and GSB and small gains in RSH and LLY - and got hit badly in DRIV - without DRIV it would have been a flat day - so I ended with a loss.

Good trading,
Harry
 
You must log in or register to reply here.
Back
Top