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We start today’s webinar off discussing how Clay starts his day and spots opportunities. He focuses on risers, fallers, and active via increased volume. He also focuses on stocks breaking into new highs and lows on volume.
We move on to a trade plan which we are setting up on the 5 minute chart of OPTT. We agree that it is setting up for a long trade but we are not going to chase it so we have to find a logical pull back location to enter. There is a 50 sma sitting there which makes for a good location. After a good discussion about how we manage our RvR and what we can move and can’t move, Clay begins to let the trade unfold. After the trade pulls back toward the simple moving average, we see that the market moves in our favor and now it is just a matter of determining how we will trail our winner.