|
PureBytes Links
Trading Reference Links
|
Dear Joe:
I do not know the setup you referring to. INDU (I am looking at 5 min
chart) attacked 10800 level four times (one yesterday and three times
today) before breaking through on the fifth attempt.
What is the setup? Where you buy, stop or sell the position?
Yours, Alex.
Joe Frabosilio wrote:
>
> Today seems to fit two possible setups out of "Tricks of the Floor
> Trader". Looking at the intra-day chart of the DOW, the setup is called
> "Knock Thrice" forth is a give me ( looking at the 10800 level) and
> another way to look at this is if the market is moving sideways for 1
> hour then get out or short. With the Fed warning of an increase in
> rates, I call for the market to go down.
>
> I use both of these setups for stocks and they work well. I exited PMTC
> this morning based on moving sideways for 1 hour, the trade was a
> scalp. I didn't want to do this I was looking for about 5-10% gain on
> this trade.
>
> Just some thoughts,
>
> TradeWell,
> Joe Frabosilio
|