NYSE:YOKU intraday 5 minute chart for March 12, 2012 — Fibonacci Levels, Volume , Candlesticks

YOKU intraday 5minute chart for March 12, 2012


Today posted this chart intraday for members : This is a great intraday pattern/strategy  that I’ve used  both for Gap up & Gap Down stocks

Thought I’d share it so that you can see how i look at some of these big movers ( whether they gap up or gap down ) These are some important things I watch. Double Click on the YOKU chart to see the notes clearly on a separate page.

So if you were to daytrade YOKU look how well the Fibonacci Levels, Volume , V-shape bounce, Price action just under $28 great support & all occurred right into that 11amEST time frame. A few more things are the Candlesticks turn from red to green right into that same area and the Volume although it did not increase went from red ( Sellers ) to green ( Buyers ) you can see how clear that is on the chart i posted

Lastly you can see that Stochastics starts to turn back up from being the oversold situation it was in intraday.  When I enter any trade I like the chart to tell me a story so I rarely rely on 1 indicator. In this case we had 6 indicators that all lined up well and told us a great story.

I had mentioned in chat that the safe strategy on intraday trades is to play the stock into those fibonaci levels whether you are short or long it doesn’t matter.  Also didn’t surprise me that YOKU had pushed to a new high by the afternoon to push well through those fibonnaci levels.


Note: I do own YOKU longer term from here ( up on it but didn’t sell it , My goal is to try to trade it into the Facebook IPO but if i find it tops out before or tries to close today’s gap then I’ll lock up my profit like I did recently in January )

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Hope you found this helpful,

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Posted in Charting & Analysis