{"id":3657,"date":"2010-02-05T15:29:58","date_gmt":"2010-02-05T20:29:58","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=3657"},"modified":"2023-04-03T12:40:58","modified_gmt":"2023-04-03T16:40:58","slug":"trade2hold-important-intraday-level-breaks-uptrend","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/trade2hold-important-intraday-level-breaks-uptrend","title":{"rendered":"Trade2Hold- Important Intraday Level (breaks uptrend)"},"content":{"rendered":"<p>Trading is not simple. \u00a0Developing traders must learn the subsets of trading set ups, and craft trading systems that account for the nuances and variables of each trade. \u00a0Each trade is different.<\/p>\n<p>A spot on example of the depth needed for your playbook is a look at a Trade2Hold in V yesterday. \u00a0First as intraday traders we must adapt towards these longer holding periods because of today&#8217;s market structure. \u00a0Second we must develop a list of Trades2Hold that makes sense to us. \u00a0Third we must have well-defined exits for our Trades2Hold. \u00a0Fourth we must enter our positions based on new intraday patterns. \u00a0Finally we must use different Trades2Hold from our playbook depending on the market. \u00a0For example the Tuesday before the Senator Scott Brown election we gravitated towards buying into pullbacks for strong stocks. With the recent weakness in the market we change gears.<\/p>\n<p>This is a lot of change. \u00a0But change mandated by Mother Market.<\/p>\n<p>Yesterday I caught a Trade2Hold in V. \u00a085.30 was an important intraday support level. \u00a0Sellers tested this level and the buyer would not drop. \u00a0V found 86 where it met long term resistance, previous intraday resistance, and resistance in the After Hours. \u00a0In a weak market what were the chances that V would clear 86? \u00a0ALJ who runs <a href=\"https:\/\/www.smbtraining.com\/blog\/trader-90-trader-365\">SMB Training Trading Tools<\/a> exited his intraday long from 85.30 there, at 86.<\/p>\n<p>V failed at 86 for the second time and then violated the important intraday support level of 85.30. \u00a0I shorted into the next upmove. \u00a0Before the explosion in HFT (high frequency trading). whacking the bids below 85.30 would have been my entry. \u00a0That does not work in this market. \u00a0The trader often must wait for the next upmove after the 85.30 bid is violated to start their short position.<\/p>\n<p>Now that I have established my Trade2Hold I must decide how to exit. \u00a0The market was very weak so my mindset was to be slow to cover. \u00a0Something\u00a0substantial\u00a0needed to occur before I covered. \u00a0And finally something did. \u00a0V broke the intraday downtrend on my 5-minute chart at 83.75. \u00a0I covered, booked my profits and readied for the close.<\/p>\n<p>This trade worked because I adapted to a Trade2Hold because of this market, a particular Trade2Hold that works best for a weak market, an entry that accounted for HFT&#8217;s, and an exit appropriate for yesterday and me.<\/p>\n<p>Best of luck with your trading! Don&#8217;t forget to <a href=\"http:\/\/twitter.com\/smbcapital\">follow us<\/a> on Twitter!<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/02\/V-8-4-09.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-3659\" title=\"V 8-4-09\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/02\/V-8-4-09.png\" alt=\"\" width=\"580\" height=\"390\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/02\/V-8-4-09.png 580w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/02\/V-8-4-09-300x201.png 300w\" sizes=\"auto, (max-width: 580px) 100vw, 580px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bella discusses a Trade2Hold in Visa yesterday below a significant intraday level<\/p>\n","protected":false},"author":144,"featured_media":3659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,3],"tags":[490,18,362,605,626],"class_list":["post-3657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","category-technical_plays","tag-adapt","tag-smb-capital","tag-trade2hold","tag-trades2hold","tag-visa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trade2Hold- Important Intraday Level (breaks uptrend) | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/trade2hold-important-intraday-level-breaks-uptrend\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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