Momentum Scalps Using Range Bars

Conoco Philips continues to trend higher making new 20 day highs which makes for textbook momentum trading. I use a 25 cents range bar to trade COP which provided 3 momentum scalps good for a total of 1.89 of profit. As you can see from the chart above my first entry provided the best scalp of .77 in only 10 minutes. The second entry was good for .49 in 13 minutes and the last one produced .63 of profit in under 5 minutes as it took out the previous day's high...textbook!

Using Range Bars to Day Trade Las Vegas Sands After Earnings

Day Trading LVS after they released their earnings last Wednesday was just a matter of fading the gap opening (46.05) on Thursday and then going long above the Thursday intra day resistance (45.00) on Friday morning. LVS was trading as high as 46.55 before Thursday open. When the opening bell rang and LVS could not take out the pre-market highs, it was just a matter of getting short on the first pullback after taking out the pre-market low of 44.93. My 1st sell short signal came at 9:52 am at 45.06 after trading below thw 44.93 level. The 2nd sell short signal came at 10:08 am at 44.95. The 3rd sell short signal came at 11:10 am at 44.76. The signal to cover the shorts were at 2:47 pm at 44.04. Friday morning after testing the Thursday morning resistance level it was time to go long. That signal came at 9:50 am at 44.90 and we were long on our trading desk....Ka Ching!

TJX Co. Breakout Trade

I am looking to go long on the $TJX breakout above 45.40 with my 1st target at the June 16th high of 46.74; my 2nd target will be the June 3rd high of 47.34; and my 3rd target will be the April 26th high of 48.50. My stop loss will be below 44.35

Trading American Express Earnings

Earnings season is my favorite time of year to trade. The increase in volatility provides some nice trade setups for equities. Last week daytraders had quite a few. AXP gave a long entry (35.37) before earnings Thursday on a pullback, then a strong close at 36.49 and a high of 36.80. After the earnings on Friday we had a sell short signal (35.71) on a pullback in to a weak close of 34.64 and a low of 34.26.