6/15/2006 Thu
Waiting For Better Patterns
Gapper's Eye uses the original macro program designed by daytradenet.com
for the CQG chart system.
This system shows
the support and resistance lines as well as the Quattro Setup Zone.
The Break Scan System is provided as one of the Daytradenet members
services.
The Kamikaze Gap Play
was introduced to the U.S. traders in Active Trader Magazine.
The U.S market will be closed on May 29
because of Memorial Day.
The U.S.
stock market opens at
22:30 in Japan. (summer Time)
After consecutive down days, the market staged a rally. Opening long
positions at this moment are still going against the current trend. So, I
focused on the classic 30-minute gap play. (LOL)
The 30-minute gap play
You can trade as soon as the stock moves out of the yellow 30-minute
range.
Blue color indicates a gap.
You can buy the issue when it breaks out of the blue gap.
Look at the 1-minute chart for the detail.
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30-Minute Magic Cross Gap Play
This is a daytrading strategy utilizing the Swing
Scan (available soon). Our goal is to take one bar worth of profit
on the 30-minute chart. Just by using the Swing Scan, you can play
both swing and intraday trading.
The Breakscan Pro comes with the 30-minute Magic Cross.
The stock below has a gap smaller than the ideal size.
↓
High - Low Bands Gap Play Watch
We
are releasing the Swing Scan system shortly. As the name implies,
this system is designed to scan candidates for swing trading. If your position moves to the point of
your entry, you can close your position during the market hours.
Be sure to follow the market index closely.
The Nasdaq opened higher. It looks ready to reverse after three consecutive
down days.
Swing Scan Watch
Each figure shows the size of
the gap, the order of moving averages, the new high or new low in the past five
days. The trigger indicates the buying and selling pressure. We do not hold
overnight positions more than five days. A long position will be closed when
the stock gaps down. (Sometimes, the position is liquidated on the second gap-down.)
The opposite rules applies for closing short positions.
Over night positions
None.
No stocks qualified to trade today.
Gapper's Eye Index
Daytradenet Top
Red and blue zones show the gap of the preceding
day.
The Green zone indicates the profitable zone of
trading.