Those who traded together with me in various chat rooms, know that this is one of my favorite short-term plays. Once 4hr candle is formed and has a long tail, I put on a trade to fill it. This is a high-percentage play (just like a gap fill). In this example I use current NQ chart (I am typing at 20:30 est) just as 4hr candle closed. The idea is to fill the long tail, which formed just after AAPL reported its earnings in afterhours. Traders shorted NQ because AAPL was halted. When AAPL reopened NQ quickly followed AAPL up, hence the long tail was formed.
Very Important! This is not an advice to trade this particular set-up. Use extreme caution and your own research.
Update on Fri. Oct. 26 @ 12:45 am
At this time you should be 1/2 out, you can divide the other half in two and place those targets at half and full tail fill (or as you please), stop goes to b/e, and you go to sleep...
 |
| click on chart to enlarge |
No comments:
Post a Comment