David
David Patrick has traded bond futures,spreads,equities and options for over 20 years. He graduated from The Ohio State University with a degree in Finance, in 1995. He started his business career as a Trust Tax Accountant for National City Bank. He became an Investment Advisor at Olde Discount Stockbrokers in 1998. Five years later he became a top trader for Elite Trading LLC. At this hedge fund, David led a team of traders specializing in bond future spreads to an impeccable track record. In 2008 he branched out on his own and became a very successful Independent Trader. On January 25th, 2013 he successfully launched Fitzstock Charts Premium Service. This elite trading service has helped traders around the world learn his proprietary trading methodology.
Hi David,
Is it me, or is there an error on the chart above? Based on my understanding of the 5 minute rules of engagement, this Nike trade never got engaged bc Price never suprassed the highs of the opening 5 min bar.
Correct?
When the opening five minute candle highs are broken (by .01)and it is above the initial trigger price,……..the stock engages
NKE did engage.
Please see all the other 5 min rule examples
for day trades, then where was your stop on this one?
where would stop have been if this were a day trade?
Stops are listed on the Daily Focus List (ESFL).
Day traders use lows of day, hybrid previous days lows, and swing use ESFL stops.
Stops are listed on the Daily Focus List (ESFL).
Day traders use lows of day, hybrid previous days lows, and swing use ESFL stops.