Try This Technique To Find Better Setups
Extending your intraday time frame and combining
signals usually gives a higher probability trade. Consider Adtran, and today’s
earlier post:
09:50:41
Intraday
Setup Alert
ADTRAN (ADTN)
is triggering out of a 1,2,3 bottom on
its extended intraday chart. The
stock is a member of TM’s Momentum
List, and is down 0.15 at 31.56.
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While the “2” in this
setup is not clearly defined, it is obviously a double bottom off of yesterday’s
low. Note the word “extended” in this post. You would have missed this
if you had your charts set for the current day only. The low today was .02
higher than yesterday’s low, but that’s close enough. The stock stopped at this
level and then went on to form a Trap Door, which gave you a second
confirming signal. For the next 15-20 minutes it was green lights all the way.
Using extended intraday charts
(three to four days) gives you a lot more information, and usually yields better
setups. Try it.
Have A Great Weekend!
Brice
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