Here are two B&B patterns I traded today from my usual suspects list. I noticed quite a few more such as MA and ICE. I close all of my positions before the FOMC release and I didn't care for the wild swings after so I waited a while before deciding if I wanted to wade back in. FFIV gave me a second chance so why not.
8 comments:
Jamie,
How do you know that a stock breakout is for real, instead of just dead for the day and jinking around?
prospectus,
I think the volume and historical resistance can give you great clues.
Propectus,
I don't know and that's why I use buy stop orders two pennies above (below) the base. I don't have 100% success on these setups, but when they do work, they work very well.
Thanks Hadman,
I agree and I also find that the longer a stock bases in a narrow range, the more powerful the move. FFIV, for example, was basing between $77.00 and $77.50 from 10:30 to 2:30
Very nice trading Jamie -- excellent eye and equally impressive execution. Kudos.
HCPG,
Thanks guys, appreciate the compliment from the B&B experts.
Hi Jamie,
I notice you use the phrase "price stalls" and I have seen it being used in other blogs as well. Could you pls. define a "stall" - are you looking at it on a 1 min or longer timeframes?
MD
Hi MD,
Do you have a specific example where I used that phrase?
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