Sunday, January 29, 2017

Day Trading the daily bars: GLW, HP, LNG

3 Daily Bar Day Trades from last week: each with strong bars breaking to new highs or lows engulfing previous bars.

HP short: Large engulfing bar breaking to new 20 day plus low. Volume agrees. Enter at low of day .
LNG Long: Strong Green Bar and volume and hitting new high. Followed through the next day with similar bar. Enter high of engulfing bar. 
GLW Long: Strong Green Bar off the 20sma, supporting volume and hitting new high. Enter high of engulfing bar. 

When I am scanning in the morning for 30 minute breakout candlesticks I am looking for these same type...Stocks breaking to new high or lows and with strong volume. Keep it simple in trading stocks with this premise.



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE