Tuesday, September 8, 2020

WYNN short play - 5 min power bar pull back play

 This is the pattern I play quite often, its part of my strategy called - 5-minute power bar pullback play.

As you can see on the charts, the 1st 5 minute bar was a good decent bar down. This was a gap down stock that caught my attention. Today market was down so I wanted to play in the same direction as the market, so I do not have to fight the bears. 

There was a small 1/2 bar pullback and I saw the opportunity to enter below the 1st 5 minute bar, adding in my direction. I exited on the next whole number taking off my profits and closing my postion.

These strategies are well explained on my DVD:

Learn this with my DVD, simple strategies that will pay off  http://www.agaptrader.com/Trading_DVDs.php