Does anyone use this setup?

Discussion in 'Trading' started by neo_hr, Oct 30, 2001.

  1. lescor


    I look for those set-ups as well and have found that a high volume move up, followed by narrowing price range and diminishing volume is usually followed with a continuation of the previous trend. I use it on swing trades and for day trades using one minute bars. For multi-day positions, I've found it to be the most reliable pattern of the ones that I look for.
    #21     Oct 31, 2001
  2. Hitman



    I am curious, did you cover your 3 energy positions before 2PM? If so did you flip? I trade energy everyday that's why I wondered :)

    Thanks for the comments!
    #22     Oct 31, 2001
  3. TonyOz


    Yes I covered way before that. I didn't flip, I was trading QQQ.
    #23     Oct 31, 2001
  4. TonyOz



    Can you believe this dog?

    Covered short at 37.20 y'day ... closed at 33.94 today and bidding 36 after hours.

    I made the MSFT play (bottom fisher setup) today. Unfortunately, not only that I didn't close it, but I kept adding to it and went long overnight a bundle.

    How do you spell pain? I will learn tomorrow :(

    Good trading
    #24     Nov 1, 2001
  5. Harry


    Why did you pick MSFT ? It really had a nice, steady move throughout the day - did you enter at the pullback at 10am ?

    I had a winner in ADSK, some small losses in ABC and GSB and small gains in RSH and LLY - and got hit badly in DRIV - without DRIV it would have been a flat day - so I ended with a loss.

    Good trading,
    #25     Nov 2, 2001