{"id":7136,"date":"2010-09-17T14:09:23","date_gmt":"2010-09-17T18:09:23","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=7136"},"modified":"2010-09-17T14:09:23","modified_gmt":"2010-09-17T18:09:23","slug":"finding-good-setups-in-a-quiet-tape","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/finding-good-setups-in-a-quiet-tape","title":{"rendered":"Finding good setups in a quiet tape"},"content":{"rendered":"<p>This blog is going to go over one of my recent trades in COG. Yesterday\u2019s morning session was very quiet and I was having difficulty finding stocks that were really moving. I was able to establish during the first 15 minutes or so that I would trade a \u2018range strategy\u201d until the market structure changed. (more about this on another blog, stay tuned) \u00a0During these types of days I look to fade stocks having extended moves to resistance. I call this my \u2018tape fade\u201d trade.<\/p>\n<p>To find my trades I first find a technical pattern I see and edge in and then find an entry using the tape. This setup\u2019s success is pretty much given to the information I get from the tape, this is what makes this setup my highest probability trade in my playbook.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/blog-image-11.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7140\" title=\"blog image 1\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/blog-image-11.bmp\" alt=\"\" width=\"579\" height=\"51\" \/><\/a><\/p>\n<p>At 9:50 COG popped up on the SMB Radar and I put it on my screen, the stock was at 28.40. I noticed the stock was trading quickly to resistance so was looking for a spot to fade it. I then saw a 28.65 seller drop to 28.60, 28.55 was absorbing a ton on the bid. In this type of play I look to get short (fade the move) as soon as the buyer loses. It\u2019s very likely that this will create a pullback in the stock or in the best case a reversal. I set my stop for this trade at the high of the move. Note that I am not picking tops, I am just following the big players in the stock and mechanically executing my setups. 28.65 ended up being the HOD, not bad for a trade with .10 of risk.<\/p>\n<p>Follow me on twitter @joep_smb<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/blog-image-21.bmp\"><img decoding=\"async\" class=\"alignnone size-full wp-image-7144\" title=\"blog image 2\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/blog-image-21.bmp\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This blog is going to go over one of my recent trades in COG. Yesterday\u2019s morning session was very quiet and I was having difficulty finding stocks that were really moving. I was able to establish during the first 15 minutes or so that I would trade a \u2018range strategy\u201d until the market structure changed. (more about this on another &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/finding-good-setups-in-a-quiet-tape\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":124,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1394,7,1395,3],"tags":[1376],"class_list":["post-7136","post","type-post","status-publish","format-standard","hentry","category-joe-ps-blog","category-reading_the_tape","category-smb-radar-update","category-technical_plays","tag-p","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Finding good setups in a quiet tape | 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\/finding-good-setups-in-a-quiet-tape\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finding good setups in a quiet tape | SMB Training\" \/>\n<meta property=\"og:description\" content=\"This blog is going to go over one of my recent trades in COG. Yesterday\u2019s morning session was very quiet and I was having difficulty finding stocks that were really moving. I was able to establish during the first 15 minutes or so that I would trade a \u2018range strategy\u201d until the market structure changed. (more about this on another ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/finding-good-setups-in-a-quiet-tape\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2010-09-17T18:09:23+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/blog-image-11.bmp\" \/>\n<meta name=\"author\" content=\"Joe Palau\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joe Palau\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script 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