Quick brief at 2006-04-04 01:40:17
I’ve been a little busy with trading and other things, so not much time for blogging once again.Just a quick update on trading.Trading’s been good and I’m still finding the 1 minute time frame to be most effective “for now”.It’s also coinciding nicely with some other time frames especially when the entry lines up across multiple time frames.Ice was a perfect example today.This morning Ice setup nicely between the two time frames basically off the 2nd 15 minute bar.On the 1 minute chart it gave a nice cross up back through the moving averages of 5 period,15 period and then the cross up through the 20 period of the bollinger bands.(I’ll explain more with a chart later)The 1st 15 minute bar was a gap up ,but weak and then the 2nd 15 minute bar opened just above the opening range low,but never traded below it.There was also a nice rising 34 period moving average along with the fibonacci retracement zone setting up for a nice move back up to the highs.These are a few things I look for in a setup and they all seemed to come together on this one.I’ll try and review some setups along with charts over the weekend as I find time to do so.I’d also like to write some things about trading stocks according to sectors in play.By in play I mean either money flowing in or out making for better trading moves throughout the day,long or short.I’m finding that makes trading a few stocks acceptable as you can rotate through different groups,but still get familiar with the patterns or characteristics of those stocks.I’ll try and play catch up “again” over the coming weekend.Have a great week of trading!
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