1 minute chart - AFL

Daily - Hammer from previous day gap up

5 minute chart - prior day consolidation

1 minute chart - Double Dynamite small hammer

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Stock: AFL

Entry Bar: 4
Time Frame: One Minute
Entry Green Line: 44.39
Stop Red Line: 44.17
Result: up to .54
Setup Grade: B+
Notes: Scale as you go and get your stop to even. Daily had a nice hammer and it consolidated the prior day (see 5 minute chart). Small gap and a double bar hammer set up...almost wedge like. As hold a little after getting stop to even to see if you can catch a nice gainer. In this case would have been stopped out but it ran later on.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

One Minute chart WEDGE - ITUB

1 minute chart

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Stock: ITUB

Entry Bar: 4
Entry Green Line: 19.99
Stop Red Line: 20.06
Result: sold gap fill 19.66
Setup Grade: B+
Notes: Working on updating my business plan with my one minute charts. The setups not much different then the longer time frames except I use different exit and stop points. My share sizing is different as well. These are not for new traders only experienced traders. I like the one minute charts because I crave action in the morning and see setups develop faster. I also have alot of experience to reconaize what I am looking for and make quick decisions.

I have explained over and over it takes patience to find the correct setup. Start with the longer time frames, learn a setup or two, and practice your patience. I have always said the best traders know when to sit on their hands.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.