Friday, July 5, 2013

July 5: 5 min chart

Easy entries.

Strong internals, good jobs data...

A full gap fill and run.

That end of day run featured advrl over 1000...  pushing -- clear as day.  After 998 - there was nothing to do but hold. But so few are able to follow a trend all the way.

Patience got you a clean double bottom set up early and another one end of day for the end of day run.

/tf strong day off the gap fill bottom and power finish.

Also note on the first double bottom - that required at least 1 hour from the time of the low of day to confirm a base -- and the bottom occurred about 1 hour 10 min. after the low print.

No need to anticipate anything.  The patterns will arise each day in different times, but will invariably be the same TL formation and test of sup/res (double bottoms).

You don't need to know the future because your risk management takes you out fast and leaves you in slowly so it creates a CP plan.

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