fade or follow new highs/lows?

I

IronFist

intraday price makes a new high. is this a signal that there is a strong uptrend, or do you fade it?

intraday price makes a new low. is this a signal that bears are in control or do you fade it?

(assume its not news or fomc day or whatever)

same question for daily charts, too.
 
Quote from IronFist:

intraday price makes a new high. is this a signal that there is a strong uptrend, or do you fade it?

intraday price makes a new low. is this a signal that bears are in control or do you fade it?

(assume its not news or fomc day or whatever)

same question for daily charts, too.
More...

Buy new highs

Sell new lows
 
Quote from IronFist:

intraday price makes a new high. is this a signal that there is a strong uptrend, or do you fade it?

intraday price makes a new low. is this a signal that bears are in control or do you fade it?

(assume its not news or fomc day or whatever)

same question for daily charts, too.
More...

Generally speaking - it often can depend a lot on the trend and where S/R is.

In an uptrend, buy new lows, in a down trend, sell new highs.

In an uptrend, expect resistances to fail, in a down trend, expect supports to fail.

There are no hard fast rules.

Steve
 
Quote from NoProblem:

Generally speaking - it often can depend a lot on the trend and where S/R is.

In an uptrend, buy new lows, in a down trend, sell new highs.

In an uptrend, expect resistances to fail, in a down trend, expect supports to fail.

There are no hard fast rules.

Steve
More...

oh geez maybe i didnt ask the question right.

i meant High of days and low of days.

so you'd never have a new low (of day) in an uptrend.

my bad.
 
Quote from IronFist:

intraday price makes a new high. is this a signal that there is a strong uptrend, or do you fade it?

intraday price makes a new low. is this a signal that bears are in control or do you fade it?

(assume its not news or fomc day or whatever)

same question for daily charts, too.
More...

Either one will work just fine as long as your consistent and take the time to study the traits of the ones breakouts that are succesful in case your going to buy them or that fail in case your going to fade them. Of course you should also know the traits of the ones that fail if your going to be a buyer, but you should know still know the traits of ones that work out more so in that case.
 
Quote from MrDODGE:

If you buy you better be ready to jump out. This rally is all about the stimulus package.
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Nope. The main reason why stocks are surging is because of the mass realization by funds that the recession is very shallow.
 
Quote from stock_trad3r:

Nope. The main reason why stocks are surging is because of the mass realization by funds that the recession is very shallow.
More...

Good traders don't ask why.
 
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