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.
You trusted the double bottom to hold eh!
ReplyDeletei 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.
ReplyDeleteStewie 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.
ReplyDeleteStewie 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.
ReplyDeleteanon: 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.
ReplyDelete