I was too tired Thursday to finish my post and Friday my brain was fried so I did not post at all. Friday I ended the day up almost 2 risk units and if my trade in LVS long would have broke to the upside at the end of the day as the market did it I would have had another touch down, but LVS just continued sideways and got wippy! I had one of those text book trades on Thursday that I hesitated taking until I removed the moving averages. Once you see the chart without the moving averages it becomes so clear that you just have to enter the trade this is the key here to mastery, I not wanting to enter the trade was forced into the trade by the perfect pattern. It would have been a crime if I had not taken the trade, I found the trade off my gap up list in the morning and noted it that I wanted to take the 15 minute buy. The trade triggered at 12:30 lunch time and many traders refuse to play lunch, I’m just the opposite in my thinking, if a play sets up like this one, I must enter, the fact is that many 15 minute buys or sells setup during lunch and these can be some of the most reliable trades during the day. I show two charts here of the same play, one with the moving averages and one without, I use a tab chart so I can remove the moving averages with a click of the mouse which allows me another view of this text book 15 minute buy in JNPR.
JNPR