Online Stock Trading | Apollo Group Inc. – 5 080406
The online trader was looking for a trading setup and found one for Apollo Group Inc. on it’s intraday 5 minute stock chart. He was free to short the stock as soon as the trigger was hit. The stock of Apollo Group Inc. bounced nicely into the 10:00 am reversal time period. As soon as the 6th bar was trading below the previous bar, the online trader executed an order to sell short below 44.95. He was filled and placed his stop a penny above the day’s high.
With the nasdaq in a downtrend most of the day, the trade was left to form pivots. This ended up being over a 5R trade as the stock of Apollo Group Inc. was covered near the close as trailing stops were tightened. Another successful trade without emotions for the online trader.
This entry point stock pattern will be designated as a BS2 or Bear short 2. It’s valid in any time frame. 3 to 5 bars trading up followed by a lower low on the next bar triggers it. A stop is placed above the highest bar.
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