Nasdaq 2 Day Breakout Strategy

Free document illustrating amongst others a 2 day breakout strategy for day trading available at:

www.daytradinguniversity.com

Some may find this useful.

(I have no association with this website)

My own personal feelings and yours very likely will be different is, thats more like a middle America, retail trading entry than a day traders entry. That set up is as old as the hills and old set ups are history now. The market is more likely to fade those type of moves. If you watch the US market seven hours a day, every trading day like i do you will see the market makers suckering all the retail people as they play out their out dated ideas. Dont get caught.

I attach a chart showing a different trade but with decent support and you can see how i called the reverse of the obvious move. The left of the screen shot shows my live comments.

Naz

Thank you Naz

All

I've been thinking about the example and comments made by Naz regarding headfakes of the previous days high/ low.

To avoid getting suckered wouldn't a simple tactic to only take action on the second breakout if it comes or to go with the headfake once confirmed.

An example of the headfake (I think) was SLAB yesterday, once it broke the days low the next S/R level was the previous days low which was broken only to reverse straightaway.

Regards
Steve