Friday, January 23, 2009

Trend Day rules

1. Determine if we're trending (this is the hard part). This is probably best done by viewing the early action, and checking the TICK and MA's, and the ADV line by 10AM

2. If we are trending; buy on 5 min stochastic bottoms, sell on stochastic turns through the Zero line.

3. Wait for pullbacks; but also wait for them to turn. I was early today, and got stopped out for a 4pt loss.

4. RSI will also give sell signals.

5. Touches on the 20SMA on the 5min chart can give buyable pullback signals.

No comments:

Post a Comment