As we speak I just took half of the trade off at the third test of todays high with a market order and got filled 10214 so trade is risk free as of now. I just don't want to get caught in a consolidation day and wanted to see 10280 today. So now I can relax and let my other half run or not.
Time stop activated and I'm off all at 10200. I will think about re entering a break out above the high of the day if conditions are favorable. I hate going into weekends on a sour trade so I will take what she gives me today and be happy with the profit.
My feelings from the activity so far today is that we MAY set up a narrow range consolidation day today and that would be nice as Monday could offer a sweet trade, not sure which direction yet but 10,000 to the downside and 10280 to the upside either way I hope to be there. Will continue to monitor today but not expecting too much. Will see...
Nice going Samson'. Making money on Friday always seems to make the weekend better. I quoted your thoughts above because it's my favorite daytrade setup. Everything about it is based on sound principles. And when the primary candidate is an index, you have a ready-made list of stocks to look at if you prefer shares to contracts.
inandlong - thanks The conditions for a late afternoon breakout are almost in place so if we get all systems go I will take it if it doesn't happen too late in the day. If not well Monday here we come.
I'm taking profits now on all the calls that I wrote yesterday and today as my sentiment indicators are all turning neutral now. Cheers.