I see that clearly... OK. You mean go long at 50.25 area, or go long at 50.25 area _AND_ "If this stock gaps down quick against futures and I'm able to catch it" ? nitro
You mean go long at 50.25 area, or go long at 50.25 area _AND_ "If this stock gaps down quick against futures and I'm able to catch it" ? nitro [/B][/QUOTE] If QLGC traded into the 50.25 range then I would consider going long, BUT if it gaps down quickly and futures are not following, then I might play the long side regardless of the price it gapped to. When trading this stock you can't place as mcuh importance on the support/resistance due to the volatility. Anytime QLGC gaps against futures the gaps are usually filled within 30 minutes. This stock requires a different type of trading strategy than most when using charts, studies, ect;
I wanted to make some money. Look at the 1 min 1 day chart and you tell me? Did you see a chart pattern a few minutes before I took that trade that screams short?
Got it - Stoch 100, MACD diff loosing mo, NAZ wiggle exhausted in downtrend, res at 32.40, for easy stop loss. Sorry, I will be more selective in future posts. nitro
Those were some smaller signals, but look at the double-top formation at 14:47 and 15:12. Once that second top pulled back that generally signals a short.
The double top is what I meant when I mentioned the resistance at 32.40. However, I see that that takes on a greater weight than the price derivative signals, which I was not sure... The only thing that would worry me is selling into a pretty positive stock on the day - still, I assume your stop-loss was at 32.39 area, so low risk trade if wrong? Did the NAZ weakness at that time confirm, or didn't care? nitro