Day Trading Gap Algorithm
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Bearish 1-2-3-4 Pullback: Stock must be below its 50-day moving average and three consecutive higher highs or any combination of 2 higher highs and an inside day.
MGM on 2/1/16 met the above criteria for a Bearish 1-2-3-4 Pullback as shown on the daily chart below.
The 5m chart below show the short trade triggering when MGM traded below the previous day low at $19.49. MGM traded to an intraday low of $18.96, and a low of $16.18 six days later. Bearish 1-2-3-4 Pullbacks make great swing trades and day trades.
Each day after the market close, we run multiple custom designed scanning algorithms that provide stocks for the next trading day swing trade list. If you would like to become a member of our swing trade service, the membership options are listed below.Here are the Bearish 1-2-3-4 stocks on 3-23-2017 for trading on 3-24-2017
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