First Things First
First consolidations of the day that form after making a new intraday high
are often good places to look for entry for the daytrader. A good example of
this took place this morning on TradersWire:
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10:37:41
Intraday Setup Alert
Applied Materials (AMAT)
is forming a flag near today’s high. AMAT is now up 1.53 to 45.66.
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Semiconductors have been strong in the session today, and at the time of the
post, AMAT had taken out yesterday’s high when it formed this loose flag
formation.
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The stock runs higher for more than one point following the
breakout from the flag or one-bar pullback depending on how your eyes process
patterns. Keep an eye out for first consolidations at new highs or lows early in
the session, and you will find yourself some winners.
Have a great weekend!
Duke