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Strategies & Market Trends : Swingtrade
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To: Brandon who wrote (290)4/2/2001 7:16:21 AM
From: Brandon  Read Replies (2) of 336
 
Wide Range Trading Days (WRD) can represent great opportunities for the trader who know how to take advantage of this event. A Wide Range Day is defined as a day in which the range is larger than is normal. These days often show extremes in the ever present human emotions of greed and fear, often panic. We have a variety of setups we use to take advantage of wide range days.
Wide Range Day Buy Set-up

1) An uptrending stock that has pulled back for 2 to 4 days.
2) We want to see a day in which the range is substantially larger then is "normal" for a particular stock.
3) We want a stock which essentially opens at he high, sells off all day and closes at or very near the low.

Wide Range Day Buy Set-up Actions

1)The first action assumes the stock opens lower then the prior days low. At this point we set an alert 1/8 above the prior days low. If price is broken we will look to go long. Our stop is placed 5/16 below the low of the current day.

2)The second action assumes the stock gaps up from the prior days closing price. If this occurs we wait 30 minutes and take note of the high achieved in this period. Should the stock trade above this high at some point during the day we will look to go long.

There are many other variations to this setup, and we use them and teach them in our trading room.

Brandon
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