If you are interested in looking…still working on my breakouts after 10 am. Today was a textbook day for this as the first 1/2 hour failed to produce long plays in most.
Notice how these breakouts can be fast and volatile. I actually prefer the slower moving ones (look at ILMN). But I’ll take anything that works. 🙂 You have to have your stop order in for the breakout price otherwise you will most definately miss it. Keep your stop loss close at the beginning. If it doesn’t take, it doesn’t take. But if it does, try to use the 20 and 30 day moving average on a 3 minute candle to help you get out….unless of course you have a very volatile move, I would consider getting on in under 5 minutes. You will most likely see a retracement and will eat up your profits.
