The Price Flow approach uncovers high probability trade opportunities wherever they unfold. While you can’t watch thousands of stocks at the same time, in addition to tracking a select number of stocks every day, you can also scan for hot stocks of the day to see if these hot stocks fall under the Price Flow opportunity umbrella.
Hot stocks of the day include stocks with large % gains, large volume surges, with relatively low floats.
At the top of the scan list today was $MIRM and after analyzing context a high probability trade opportunity presented itself.
In the chart below $MIRM was testing a key swing high (blue line), or a logical place for price to either fail or continue higher.
When price first approached this swing high you couldn’t predict what would happen next. However, after price merely stalled in this area, coinciding with a developing Price Flow secondary buy setup, this signaled high probability for continuation higher vs. failure from a context standpoint.
I bought $MIRM @23.30 on a Price Flow buy setup (Arrow at entry on chart), and price immediately moved higher to scale out to set up a no risk trade 4 minutes later, and then continued higher to offer a large 2 point $$ gain only 15 minutes after entry.
There are many great trading opportunities when you scan for hot stocks of the day and determine that context aligns with Price Flow setups.