It was a hard day to trade, with the market gapping up a tiny bit but falling for close to half an hour. The SP500 formed a 1 min range (I actually look at the SPY) that seemed to favor the upside, so that was was looking for a nice long setup. I found two that I traded, AMP was the best one and also showing the most promise.
Archive for September, 2009
Using smaller timeframes
While I look for 15 or even 30 minute pullbacks in strong stocks I use the smaller timeframes to time my entry and to set my stop. This greatly improves risk/reward. This works best for me if entering a long near support or a short near resistance.
ISRG proved to be a nice example of this [...]
