I have been watching snow since it’s been recovering from the sell off it had about a month ago.
Anyway, I have been trading a lot of intraday bounces and my prediction of QCOM yesterday was similar to this.
Nothing fancy just a bounce play that was confirmed with the level 2 data.
I always look through the order book to get an idea of who is buying and selling, currently there is an order for about 1200 shares @251 which gives a lot more validity to my thesis that big money is buying this up.
The bold white line inside the purple rectangle is the area I identified as a demand zone - and where I plan on taking my position.
I plan on exiting when the order book tells me to get out but I expect a clean ten point run off the bounce.
I am new to trading so please bare with me if this isn’t up to par , I enjoy sharing ideas.
Anyway, I have been trading a lot of intraday bounces and my prediction of QCOM yesterday was similar to this.
Nothing fancy just a bounce play that was confirmed with the level 2 data.
I always look through the order book to get an idea of who is buying and selling, currently there is an order for about 1200 shares @251 which gives a lot more validity to my thesis that big money is buying this up.
The bold white line inside the purple rectangle is the area I identified as a demand zone - and where I plan on taking my position.
I plan on exiting when the order book tells me to get out but I expect a clean ten point run off the bounce.
I am new to trading so please bare with me if this isn’t up to par , I enjoy sharing ideas.