Tuesday, May 01, 2007
Day trading and having a trend day to deal with....
Here is an idea to take a look at.....Yesterday was a classic trend day. Market opened at one end (80%)of daily range and closed at the other end (80%). But the idea you might want to track is the closing of the ticks. Anytime you have a trend day and ticks close either above 400 (up trend day) or below -400 (down trend day)there is an 85% odds the market will trade lower the next day.
Now once you have tracked this idea and then have a first bar trade to confirm....well if you are a trader....THEN TRADE BABY TRADE.
the tips of the day.....
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