Today was a gap fade day, but I didn't play that card because the Qs opened right in the middle of yesterday's range and I find that a little too tough to trade. I got a quick hit with a short on PAYX in the early going and then it was a long time before I was able to find a tradable setup.The AAPL trade is pretty straight forward. The only thing I didn't know for sure as the pattern was developing was if it would break to the upside or the downside. I always set my orders two ticks above or below the base in order to avoid anticipation and false breaks. I've posted both the 15 and 5 minute timeframes so you can see the volume spikes that alert me of a change in direction.
4 comments:
Nice explaination, thanks. And the 2 charts to compare and contrast is very helpful
Peace
Thanks for the feedback BP.
A 5/13ema crossover on 5' charts gave alot of signals, esp shorts: sndk...the whole semi sector, etc. See what you think. Thanks
BL, the crossover was a heads up, but the real signal that I see was a break of yesterday's lower trading range. SNDK, NVDA, VSEA,... all broke down.
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