SSYS was on of the trade I took in the chat room .It was on my blog watch list as buy over flag break for a break out. Stock breaks out and run a $5.53 point intraday.
The actual break out point for the stock was 58.87. Friday the stock opens right at Thursday’s high of 57.32. Now aggressive buyers would buy right at open with leap of faith that this is one of strongest name and it should do well throughout the day.I waited since many stock on my watch list gapped right at open. When that happens I usually wait at least 10.15 minutes before taking an entry. Be sure to read Trading Rules in my blog.
I even had a late entry at 59 on this stock and made a nice gain. Click on the chart below to see the trade setup.
1. Aggressive entry right at open 57.30
2. Pretty ascending triangle off 20 EMA and right below break out point. My style of trading this is always a high priority setup. One can even buy here at 58.50 with stop below rising 20 EMA.
3. Breaks out over 58.87 and bases a bit. Now this where traders who bought in the morning will sell some hence the digestion.
4. My late entry at 59 , partial sell at 60, and 61 as the stock hit a high of 62.75. Reason for my early sell was, I bought the stock pretty late in the stage and I wanted to quickly book the nice gains.
If you like this type of setups and trades be sure to check us out in the chat room.