I have gotten a few requests over the last few days to provide viable edges....
Here is one that I have used for quite a few years now...
Its very simply put an intraday entry against S/R levels in the direction of a larger TF trend...
I often swing trade (multi-session) pullback/pullup set-ups on daily charts... I wait for a stock that is in a STRONG trend to pull back to s/r levels (fibs, moving avg.'s, prior s/r, etc,)... I then attempt to enter in the direction of the trend using intraday set-ups...
Today I will go over a set-up off my morning hit list that provided an excellent low risk / high reward set-up... I personaly missed it, but for the sake of education I will attempt to explain the set-up...
LGTO has been in a STRONG uptrend for the last few months...Over the last 3 days it has undergone a pretty normal correction which has the stock approaching a confluence of two support zones...
The 20ema @ 13
and the 38.2% retracement of the 12/04 low to the 12/27 high @ 13
The confluence of these two zones could potentialy set-up an excellent opp to get long in the direction of the larger tf trend, if a low risk entry should present itself intraday...This morning the stock gapped up and ran with the rest of the semis, but soon right after the 10:15 reversal period made a move lower to test this 13 zone for the second consecutive day...The zone held and based for close to 3 hrs from 12:15 to 3:15...This base and the screaming NDX presented a very low risk / high probability (being that the market was rallying and tier 2's and 3's usualy lag and then catch on) and high reward trade...
This is a good example of entering a larger tf set-up, intraday with low risk...
PEACE and good trading,
Commisso
Here is one that I have used for quite a few years now...
Its very simply put an intraday entry against S/R levels in the direction of a larger TF trend...
I often swing trade (multi-session) pullback/pullup set-ups on daily charts... I wait for a stock that is in a STRONG trend to pull back to s/r levels (fibs, moving avg.'s, prior s/r, etc,)... I then attempt to enter in the direction of the trend using intraday set-ups...
Today I will go over a set-up off my morning hit list that provided an excellent low risk / high reward set-up... I personaly missed it, but for the sake of education I will attempt to explain the set-up...
LGTO has been in a STRONG uptrend for the last few months...Over the last 3 days it has undergone a pretty normal correction which has the stock approaching a confluence of two support zones...
The 20ema @ 13
and the 38.2% retracement of the 12/04 low to the 12/27 high @ 13
The confluence of these two zones could potentialy set-up an excellent opp to get long in the direction of the larger tf trend, if a low risk entry should present itself intraday...This morning the stock gapped up and ran with the rest of the semis, but soon right after the 10:15 reversal period made a move lower to test this 13 zone for the second consecutive day...The zone held and based for close to 3 hrs from 12:15 to 3:15...This base and the screaming NDX presented a very low risk / high probability (being that the market was rallying and tier 2's and 3's usualy lag and then catch on) and high reward trade...
This is a good example of entering a larger tf set-up, intraday with low risk...
PEACE and good trading,
Commisso