The Momentum Train
The straightforward pullback is the easiest pattern to recognize and learn
for those new to daytrading. The patterns occur every trading session, and when the market moves in the direction of the setup, things will often work out
in the form of a profitable trade.
When the sell off began in earnest, the buzz in the
TradersWire Interactive chat room was
all about it. This gave ample time and opportunity to traders to jump on the
momentum bandwagon and enter on a stock moving lower when it pulled back or
consolidated. Or, they could have used the proxy of the NDX, the
(
QQQ |
Quote |
Chart |
News |
PowerRating).
Once you see where the train is headed, all that is left is
finding where to jump on. Getting feedback from a number of eyes can sometimes
help your confidence, and it will often show you something you may have missed.
This is the advantage TradersWire Interactive
can give you, as opposed to going it alone.
Until tomorrow,