Tuesday, March 13, 2012

5.75 Gap Up + Late News+Choppy open = Flag Breaks into new highs

Today we had a 5.75 Gap Up into New Highs on the open but met with rejection early. We had a choppy open that setup as Flags till the 2nd Time Interval where we broke out to the upside and continued to drift.
Recap Notes:


Trade Selection - Ok, There was alote of mixed signals but price was stable above key areas so i was able to hold for max the hard way.

INTANGIBLE OBSERVATIONS:
Late News days generally have choppy opens - Today we had a choppy open but the range was such that there were still good opportunities but you need to WAIT!! and be patient.