Discussion in 'Stocks' started by sniper, Oct 14, 2010.
Watching this bull flag on hourly for breakout.
If you are doing this on an hourly basis, how long would your time horizon be.... would you stay so long as it holds a certain level? or other parameters?
I am attaching a chart... my thought is, bullish as long as it holds about the 80 line on the Williams Percent R.... and I would set a stop loss at 60.50... which is the confirming day.
It is a nice setup.... running away from the moving averages.... volume steady.... percent R above 80....
I would think we could follow this one up for quite awhile.
I'd be looking at it as a day trade for a possible point+.
Wound up playing it short through the bottom of the base at 64.5 for a move to 64. Setup nice on 1-min, just .10 risk.
Trading fast!.... nice move...