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Today we take a look at KSU and set up a trade plan on the 2 minute chart. This stock has a nice gap up, pulled back a few dollars and is back at the highs before we start planning our trade. We see that in the first candle we are stopped out (except Ricky who had his stop loss slightly higher then we did). Not all trades work out but this is a great example of how we can each have the same idea but slightly different values.
In our next example we take a look at NFLX right at market open. Using analysis from the previous day and moving averages, we see that the 105 level is significant. Since we would be watching the level 2 priors to the open, we can start to form a plan before the market opens and execute if we reach our entry point. We see that it has an immediate flush after testing the grandma number of 105 making for a nice trade with immediate follow through. We have a bit of difficulty trailing our winner since it is very volatile during the first 10 minutes but depending on how tight we decided to trail it, it was a good winner.