Hindsight trades
After looking at my watchlist last night, below are some really good opportunities that presented themselves. A very wise man once told me that the 15-min opening range is very important. Somehow... I've strayed a bit from that. I hope to focus more on entries developing within the 15-min opening range. In any case, here are some nice trades that I hope some of you were able to capitalize on:
EVVV: Nice shooting star/inverted hammer right at the intraday 38% level. I really prefer to call this an inverted hammer since a shooting star occurs in an uptrend (3 bars prior is a good example of a textbook shooting star)
MICC: Great marabuzo candle on decreased volume right at the intraday 50% level.
EPAX: NRB on decreased volume just below the ORL and after a WR breakout candle.
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4 comments:
SAY was a pretty good X setup. It reversed at the FIB extension.
oonr7 - can you expand on what you mean that the first 15 minutes are important? I noticed that more often that among the gap-up stocks that consolidate below OR high and break through, more often than not this type of setup had a green OR candle. Is this what you mean?
no tom... I just mean that I need to focus on stocks that develop within the 15-min opening range as opposed to stocks whose price fluctuates, closes or spikes above the ORH or ORL. If you look at the 3 charts you'll see they all developed within the 15-min opening range.
edit: spikes above or below the ORH or ORL.
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