Thursday, September 19, 2013

Trade of the day, FLTX!!!

So I saw FLTX falling apart during the late afternoon. I was waiting patiently for some type of reversal signal, and low and behold it starting forming around 2:45p.m est. After that (pic below) dragonfly doji formed I knew buying on the next candle was going to give me a short-term bounce. Went long 300 shares of FLTX at 37.70, and sold it at 39.40 for a $510 profit in about 15 minutes. That type of trade setup with collapsing prices and then a dragonfly doji forming after a long decline are my favorite trading strategies/setups.

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

No comments: