Ken; To screen for a two day high today does yesterdays low have to be lower than the prior day? Or just yesterdays high have to be lower than the prior day?
Let me try again, if yesterday prints an inside bar can today be considered a 2 bar high.
Stock screener for previous day high-low crossings
- Thread starter p0box4
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Let me try again, if yesterday prints an inside bar can today be considered a 2 bar high.
What stop and target would you use for this breakout strategy?
Yesterday's low irrelevant, main thing is today breakout over pdh
Swings it's loss of prior days low, intraday I use .40 or so for stocks in $20-30/share range
True, but most amateurs would place a stop just below that (stop-hunting) level...
Right. Also, for day trading it is critically important to use time of day to help figure out how tight to trail stops. For example I was in a couple hundred shares of uvxy this morning for a swing trade and tightened up trailing stops right before lunch near 11 a.m., because often after a nice morning run up, they often run right back down again in the afternoon. So the closer we get to 11 o clock, the tighter I trail stops in anticipation of a midday reversal.
No Other criteria? if todays high is higher than yesterdays high and the prior days high, does it matter what the price did 4 days ago?
There's a lot of criteria in addition to 2DH breakout, eg chart pattern, range, etc.... I'll look for chart example
Exactly, the same reversal also occurs in the Forex market, usually between 10 AM and noon, NY time.
Sometimes this pullback is quite severe, and can go all the way to the 78.6% Fibonacci intraday level.