Here Is One Way To Trade The News
News can be used
effectively for daytrading. Of course, you just cannot blindly trade
the news. You have to pay attention to the development of chart patterns.
08:39:26
Navistar (NAV)
reported good earnings that beat estimates.
11:31:59
Setup Alert
Navistar International (NAV),
on its 5-minute chart, is trading just below the 50% Fib. level. NAV is down
1.05 at 34.63.
12:14:40
The issue is down 2.03 at 33.65. It appears to be
forming a double bottom on the 5-min chart now.
The initial news was good, but Navistar sold off immediately after the open.
Even if you missed this steep decline, the issue provided us a short selling
opportunity at the 50% Fib level.
News creates excellent trading opportunities!