thalestrader

Here is BLK, same pattern as MA but flipped upside down for a short sale. I did not see this until after the fact, and I did not take this trade.

I did not see this until after the fact, but MA's price action had a nice long trade opportunity with a BUY POINT BETWEEN 173.97-174.01. The pattern doesn't guarantee a profitable trade, but it puts the odds of such on your side. So far MA has resisted the weakness in the general market, though that could change quickly. This is a nice pattern to watch for no matter the time frame - 5 minute, daily, weekly, even monthly. Best Wishes, Thales

exc +.12 aks -.06 aiz +.10

Hi Folks, Long EXC at 50.15 Buy Stopa on AKS & AIZ Best Wishes, Thales

I'll be out until noon or so, today. Also, I failed to post a follow up of TLM - I bought the July 15 calls for $1.25 I will look to sell half for 2.50 and hold half until expiration or or a breakdown in price action. Best Wishes, Thales

Hi Folks, Here are today's trades. Best Wishes, Thales

1) I prefer stocks that have gapped open and do not fill the gap. For example, today I traded FCEL, JASO, TROW, BEN, TMO, FLR, MOS, MEE, NDAQ. All of these gapped open higher (I mistakenly said earlier that NDAQ hadn't gapped open, but it did, but it filled the gap during the first 5 minute bar), and I believe that only NDAQ filled the gap back to the prior day's close. 2.1) I will be mindful of prior highs and lows, and I do not want to buy a new high of day if the prior day's high is just above the proposed buy point. 2.2) If there is some distance between the proposed buy point, i.e. a new of high of the day, and prior resistance, I will take the trade. For example, today, MOS had a HOD at 53.35, so my buy point would typically be 53.36. However, Friday afternoon MOS saw resistance about a dime up from there at 53.46, so I would want that resistance cleared first. I waited until 53.51 to buy. However, if the first high today had been say, 53.15, my buy point would have been 55.16, and with 30 cents of daylight between that buy point and Friday's high, I would have bought then. I think that if you would look back at the charts I've posted, most of the trades involve stocks that have gapped open, then pulled back but held above the gap, and then gone on to make a higher high (You would reverse this for short trades). Best Wishes, Thales

MOS +50 pennies MEE + 50 pennies

Here is the chart of NDAQ highlighting what I was speaking of above

Since it did not gap open higher, it did not interest me until I saw the tight action that you see in the first screen capture I posted. That tight action is what called for the tight stop.

Now how is that for timing! Well, it happens.

Made a nickle/share on NDAQ. It was going no where and distracting me from MEE and MOS, so I closed the trade. Also, I noticed all my charts today are misdated 6-7 instead of 6-9.

NDAQ Buy stop 22.01, stop loss 21.97

Order cancelled with trade below intended stop.

MEE stop is 24.81 MOS Stop is 54.02

AKAM buy stop 22.31, stop loss 22.21

Updating the charts - still long MEE from 24.31 and MOS long at 53.52

MOS gapped open higher and the gap did not fill. I did not buy the first new high after the pullback from the high struck in the first 15 minutes because of the proximity of 6/5 resistance.

Patience is its own reward Carrying tight stops on these

MOS Buys stop 53.50 MEE Long 24.31

MEE Buy stop 24.31 I do not like trading this time of the day, but the patterns I trade are here now.

I lose. -13 cents on FLR

Consolidation at the high - I am waiting patiently either to win or to lose

I'm having something of a rough morning - 6 trades. Five are closed and I am at absolute breakeven on the day. I just got stopped into FLR. Buy stop was 53.95, but my fill was 53.92. That tends to make me suspect the trade may not go my way.

Very nice, BR, very nice - you caught what I call a runner where the price established a progression of higher natural stops from your entry point until your exit just prior to the close. If you were to trade stocks that way, you'd likely capture a good number or such trend day moves where a stock puts in its low/high of the day early in the session and then closes at or near the opposite end of its range) I took the liberty of marking up a chart showing how I would like to imagine I would have managed my stops as the stock moved higher in price. Green line is at your entry point, and the red lines are where I would have placed my stops. You will notice that my initial stop would not have been under the LOD, but rather under the subsequent bar (presumably bar 3 of what you call a three bar reversal). I would do that for two reasons: 1) the risk between you entry point and a stop below that low would have been 69 cents, which is more than I would risk for a stock in ORLY's price range, and 2) as this was a three bar reversal, then trade beloe the low of the bar that set up the trade would, presumably, bring the "reversal" into question; and I'd want to be out at that point. Great job! When you come up with others, if you are able to do so, please take a screen capture as the trade is developing or soon after it would trigger. I always have an easier time "seeing" the opportunity after the fact, and I like to train myself to see what the opportunity looks like as it develops. Thank you for sharing this chart with us! Best Wishes, Thales