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Clay starts off this weeks webinar by discussing using multiple time frames to help form a trade plan. He used a 5 minute moving average to help aid a plan on the 2 minute.
We then look at WHR on the 5 minute chart. It had a large gap down to start before rebounding quite far. There is also both the 50 and 200 sma’s above price as we look at it currently. The premise going in was that our key moving averages would act as an area of resistance but we see that it continues to rip right past. We assume that we were undisciplined and watch the carnage that would have ensued. This is just one example of many as to why we keep our losers small and ride our winners.