Hubert Senters here.
Let’s take a look at Amazon. This is a really easy strategy that you can employ on basically anything that you trade. All you have to do is number one you have to know when your particular market opens in this case and you use an Amazon stock. And I’ve got a line here drawn and I’m making it green for the high and red for the low here really quickly so.
I’ve got a two minute chart and I know when it opens. I’m going to mark the two minute high with a green line and the two minute low with a red line. And then I’m just going to do an open range breakout because I know overall it’s going higher and I should be okay is the premise. So it’s just an open range breakout off of a two minute high.
You can do whatever timeframe. Let’s say you’re a five minute person. Then all you do is come in here open it up and you’d go – your five minute high would be there and your low would be there and you’d be long at $1,883 and then you just scale out as it goes higher.
Now, obviously you’re going to have to use a stop-loss that you’re cool with. But this strategy is just a simple way to do an open range breakout and you just got to figure out which direction you want to go. Now D-Link since you’re looking at Amazon I wouldn’t have done this short yesterday. Let me move this back so.
In this situation you’d be a long here. You’d avoid this short. You’d avoid that short. You’d avoid that short you’d avoid that short so you see the gist. On this one you’d avoid that short and you’d go with this long. And the reason being because what we’re doing is we’re going to go like just right here on a daily chart. We know that Amazon currently is in a massive uptrend. So we want to focus on the long open range breakouts to the high side and avoid the ones to the short side.
Hubert.
