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Intraday indications of whether or not a breakout will succeed or fail

QuestionsCategory: QuestionsIntraday indications of whether or not a breakout will succeed or fail
Matthew Johnson asked 3 years ago

Hi Pat sry to hear you aren’t feeling well. I just have a couple questions when you are feeling better no rush. I also wanted to thank you because since joining the team I have become consistently profitable so far this yr. I did switch to the 25k in my account it has really help me not focus on how many trades I have and really nail the plan especially selling into strength. It’s not much but I’m up 1600 this yr. Last yr I started in may and lost 4K but learned a lot. Thank you for all your teaching and dedication to the team.

So one question is I know to look for the volume and I have really nailed a couple trades at the open using the 10min chart. Sometimes the vol is a little hard to tell if it’s all there. But I’m just wondering…..for example yesterday the 23rd I saw gnk going I got in right after the buy line got up a good amount and sold some into strength and still have a position. I could tell very easy things were moving good in the morn and most of day. Today on the other hand the indices were all up for the day and the stocks didn’t seem to be going. Got in a couple trades and didn’t sell fast enough into strength then it died out and I took losses. Is there something you use to really hone into where the market is heading or is it just the feel after years of experience? I had a slight feeling price action didn’t seem right just wondering if this is something you have to feel or if there’s something else you use to help along with feeling the days price action?? Thanks Pat feel better soon!!

1 Answers
Avatar photoOwen Staff answered 3 years ago

Hi Matthew,
Pat made this video for you...
https://youtu.be/4AJiYe_XxCs