Today we had a 13pt Gap Up into the pre-open where we Flagged into the open. We traded the flag rang till the 1st Time Interval and Broke out on the News Release.
Recap Notes:
Trade Selection - 1S1K Great trade recognizing the Flag pattern and allowing the Breakout to take me out into the rally. 1 Sequence
INTANGIBLE OBSERVATIONS:
Flag Breakouts in the Pre-Open - Trust your experience of trading Flags and allow them to play out. The key is to enter at the lower extreme of the Range and hold till the breakout.
Trade the Trends - Trading the trends until we reach a marked Time Interval, at which point we need to consider exiting or reversing, Be aware of the Cycle that happens just at the Time Intervals, they are high quality trades especially in the longer term term direction.