Saturday, November 13, 2010

Opening Range Method

Thank god I got out of this position on Thursday.  Not sure why I sold it, in fact after I sold it I said to myself "this position is working why am I getting out?!"  Sometimes you have to take profits and in this case it was well timed.

Tight opening range, early break through support/resistance usually signifies a trend day.  (opening range for intra-day trading is first 20 minutes denoted by green lines.  Blue lines taken from data on thursday)

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