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Clay starts the webinar talking about possible scalp opportunities using the daily time frame. Clay slick willied a key moving average and support level which led to a fast 15c gain for him. We then take a look at 2 level 2 boxes and discuss how some alerts pertaining to them actually look. Even without looking at the charts we can hypothesize where wicks would be just based on levels via the level 2.
We then set up a trade plan on BABA using the 5 minute chart. We see that there is a key moving average sitting just below the opening price (50 sma). After polling the room for entries, stops and targets, we see that some members are keeping it a bit tight regarding a 3:1 reward to risk. After loading the first candle we see that some people got stopped out because they were way too tight on their stop. This is an example of a trade that worked out within the first 5 minutes of the market open. Taking into account important moving averages, grandma numbers and previous support/resistance are crucial in developing trade plans.