very good question montyguitar!
you are talking about one day runners and how to profit out of them. you may already imagine that these are riskier trades than others, but can be rewarding in just a few minutes.
the questions you normally ask yourself when you see such a monsterruner:
"wow, its up 200%! should i still buy in? noooo, ran too much already, will retrace"
1 hour later: "damn, its up 500%! i should have bought! whatever, NOW it is too late!"
3 hours later: "&/§$)"§&)!!! its up 1200%! i should have bought!"
a very good example from last week is TMA, you remember the day it went up so much, wednesday 12th?
while it was running, i posted this chart here on the board:
this was a RealTime 1minute intradaychart. for these trades you need to see almost every tick, so 1minute or 3minute chart is good.
notice that i found a trendline in the chart? as long as it stayed in it, it was safe to trade. buy at the line and wait for the bounce.
then take your profits or wait till it breaks out of the line.
thats how you do it, find trends, supports and resistances in the intradaychart. additionally look at the daily chart to look for resistances, supports, trends etc which will influence in the daily movement.
later that day TMA broke through the line and we knew it was good to sell then.
next step was to find a new trend to look for a new buy in if you want, but there isnt always a trend. it was safe to stop there.
hope i could help you
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