There have been a lot of great comments about Michael's setup, including charts and analysis of what did and didn't work. Brian has contributed a lot, and here is a trade of his from today:
"I entered BMRN on a break of the 4th bar high. The first bar was very strong and wide range, but didn't hit the 8EMA. The 2nd and 3rd bars pulled back, and the 4th bar was an offsetting bar. I'm not sure this is a great example of Michael's setup, but I have seen these work well on both the long and short side. I sold when price hit the 8EMA for a .50 gain."
Brian also discussed a trade that didn't work (WSH) and a few more that did (ABB and NILE) in comments of the last post. There is some good input from Tom and TT as well.
I'm looking forward to highlighting more of your setups and trades in the weeks ahead. Don't forget that the markets are closed on Monday!
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