Trading the open reversal. There were much better trades to take but VNO caught my eye. Check out the 5 min charts at the open in FCX and BXP. These were sweet reversals there. If you do enough of those, you'll score some nice reversals eventually.
good luck.
5 comments:
You trusted the double bottom to hold eh!
i trusted the reversal in the index and knew that VNO is very volatile and could snap back quick. indeed it did. either way, i had my eye on the exit if the reversal never materialized.
Stewie what indicators due you use on a 5 min chart?If you use RSI or stochastics what value do you use?I appreciate your help.
Stewie what indicators due you use on a 5 min chart?If you use RSI or stochastics what value do you use?I appreciate your help.
anon: i don't really use RSI or other indicators for day trading. i only use price, volume and when trading trending stocks, i use the 20 Moving Average. I find that using RSI and MACD will give too many false signals.
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