Pivot Point Setups: NTAP,SNDK short JOYG, NTRI, CMI long
4 comments:
Anonymous
said...
Hey Jamie,
I see NTAP on your focus list. I was short NTAP today taking out ORL - anticipated good movement below 26.75. It looked good initially and then stopped me out for pizza money when the overall market bounced. Maybe it just needed a retest of the ~26.75 PPs.
Also short ESRX for a good AM trade. ESRX now on potential 1st retracement up below 53ish PP.
Does AKAM look like a small bear flag on the daily to you, or is there too much volume on the up days?
I usually watch the focus list stocks in pre-market for an indication that they might BO on the open. If they do, I would look to trade it on a lower timeframe such as 1 or 3 minute chart. I use the same trade management discipline in terms of risk: reward on a lower timeframe as I would on a 15 min. setup. But the key is to find a base and break setup on the 1 or 3 minute charts.
If it moves too fast, I wait for price to consolidate on the 15 min. timeframe.
Pivot Point Setups:
4 comments:
Hey Jamie,
I see NTAP on your focus list. I was short NTAP today taking out ORL - anticipated good movement below 26.75. It looked good initially and then stopped me out for pizza money when the overall market bounced. Maybe it just needed a retest of the ~26.75 PPs.
Also short ESRX for a good AM trade. ESRX now on potential 1st retracement up below 53ish PP.
Does AKAM look like a small bear flag on the daily to you, or is there too much volume on the up days?
Jim,
I was also leaning bearish this morning but there was no follow through in the afternoon.
Nice trade on ESRX.
Not sure about the bearish flag daily for AKAM, but starting to look like a rising wedge on 15 min. wide range view from close of Sept 10th.
Jamie, on these PP breakouts, if the breakout bar is a WRB, where would you place your stop? Or do you just skip it?
PN,
I usually watch the focus list stocks in pre-market for an indication that they might BO on the open. If they do, I would look to trade it on a lower timeframe such as 1 or 3 minute chart. I use the same trade management discipline in terms of risk: reward on a lower timeframe as I would on a 15 min. setup. But the key is to find a base and break setup on the 1 or 3 minute charts.
If it moves too fast, I wait for price to consolidate on the 15 min. timeframe.
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