Comments on: How to Trade the Open – 5% gain on Direxion Daily Semiconductor 3X ($SOXL) https://morpheustrading.com/blog/how-to-trade-the-open-direxion-daily-semiconductor-3x-soxl/ Learn how to swing trade explosive growth stocks and top cryptos with a proven stock trading strategy since 2002. Wed, 06 Apr 2022 19:05:12 +0000 hourly 1 By: Kevin BUrks https://morpheustrading.com/blog/how-to-trade-the-open-direxion-daily-semiconductor-3x-soxl/#comment-21 Wed, 08 Feb 2012 14:26:49 +0000 http://morpheustrading.wordpress.com/?p=240#comment-21 Thank you Rick.

Kevin

]]> By: Rick https://morpheustrading.com/blog/how-to-trade-the-open-direxion-daily-semiconductor-3x-soxl/#comment-20 Fri, 03 Feb 2012 03:37:28 +0000 http://morpheustrading.wordpress.com/?p=240#comment-20 In reply to Kevin BUrks.

Hi Kevin,

On Jan 31 we had to wait for the 5-minute high before entering to prove that the price action had a reasonable chance of holding above the Jan. 30 reversal bar high….there simply wasn’t enough evidence to buy the pullback………
The next morning (Feb 1) we did not wait for the 5 minute high because there was already enough evidence suggesting that the price action was going to hold above the high of Jan 30….so we were ok getting in on a pullback…………We do not buy a pullback on the first day of the gap up….but with the second gap up we were comfortable doing so.

Regards,

Rick

]]> By: Kevin BUrks https://morpheustrading.com/blog/how-to-trade-the-open-direxion-daily-semiconductor-3x-soxl/#comment-19 Fri, 03 Feb 2012 01:04:17 +0000 http://morpheustrading.wordpress.com/?p=240#comment-19 “When stocks gap beyond our trigger, we wait to see if it can rally above its 5 minute high.”
Not doubting this great trade, just confused. It does not look like you waited for the stock to rally above the 5 min high. Did I miss something?

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