Watch for a break of this consolidations. See previous post. Potential for massive move it it breaks. First targets equal extension. Make sure broader market is supporting a bull move.
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Happy Trading!
Additional Info:
I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.
I focus on high volume momentum stocks in strong uptrends.
My time frame is between 5minutes to 5 days on most trades.
I scale into positions and scale out of positions as my targets are hit.
I always trail my stops after T1 is hit to reduce risk and lock in gains.
If my post is on a Weekly/Daily/240M chart the idea is a swing trade.
If my post is on a 60M chart or lower the idea is a day trade.
Day trades can turn into swing trades if the stock is strong.
All trades should be supported by market direction.
Treat my posts as trade ideas and not signals.
Traders must trade using their own back tested trade plan and rules.
Traders must plan risk first and profits second.
Happy Trading!
Comment:
Happy with the close.
Comment:
Pushing nicely. Expect some selling at 1200. Still hoping for the 1220 tap for T1.
Comment:
Maxed out today at 1206.90. Not quite the 1220. Big whole numbers act as resistance so it may take a few tries to get through.
Comment:
An inside day today. Closed within the previous day's range. This is constructive price action. Most stocks don't go straight up. We actually want them to pause so that they can build more energy to continue the move.
Comment:
T1 hit
Comment:
Has dropped back to the breakout point. Once again taking profits at T1 paid off. Still like the setup. Remains very bullish unless it drops below the green box. If price finds support I will add back and start the trade over again.
Comment:
Dropped some more today on low volume. The price action is more above lack of buyer that big selling. Still holding remainder.
Comment:
Added back today on break above yesterday high.
Comment:
Continue to ride this. Has never threatened a break below the initial green box.
