Important Stocks To Watch - Stocks At Or Near 50 MA, 200 MA, Chart Patterns

The 5 Min Opening Bell Ascending Triangle Day Trading Strategy

This day trading strategy focuses on the first 1-2 hour of the trading day. It is suitable for those who want to only trade the early session. This trading strategy is quite similar to the 5 min ascending triangle day trading strategy. The only difference is that this trading strategy only happens in the first 2 hours of the trading day.

What this means is you find the 5 min ascending triangle in the first 2 hours. Anything after that is not valid. As you might not want to spend the whole day looking for the ascending triangle.


Here are the criteria for this day trading strategy:

  1. The stock has gone up a lot the previous day or it gap up a lot today
  2. The stock forms a 5 min ascending triangle in the 5 min chart
  3. The stock is above the 5 min rising 20 MA
  4. Buy when stock trades above the ascending triangle
  5. Put a stop loss at the bottom
  6. Sell 1/2 or 2/3 when reach first target
  7. Sell the remaining when reach resistance area or after 2 hours

Let's take a look at the 5min chart of HLBZ above.

There was a 5 min ascending triangle. The trader should buy the breakout and put a stop loss below the entire pattern.

1st target is where you achieve a 1:1 ratio of risk: reward. Meaning if you risk $100, when you area making $100, sell 1/2 or 2/3 of your position. Sometimes the stock can go higher and the remaining half position is used to ride the trend higher.

But since we are only interested to play the stock for the first 2 hours we do not want to hold the stock any longer than 2 hours. Sell the stock around the 2 hour mark. Sometimes it could be earlier sometimes it could be later. But try not to hold the stock past 12 pm Eastern Time. That is when lunch starts to come in and some stocks start to collapse.

  • Help support this page and press the Facebook Like button below. Thanks!

Join Dstockmarket's Facebook Page 

Recent Articles

  1. October 2021 Stock Market Analysis

    Oct 20, 21 11:48 AM

    Are the markets in an uptrend or downtrend? Where are the support and resistance areas? Stock market analysis for October 2021.

    Read More

  2. AMD Stock, From $85 To $122 In 12 Trading Days

    Oct 19, 21 08:25 PM

    A combination of technical setups help to propel AMD higher. When it hit the 200 MA, it bounce up and shot up to $122.

    Read More

  3. AA Stock, From $38 To $57 In Less Than 2 Months

    Oct 19, 21 01:01 AM

    After correcting to the 50 day moving average, Alcoa was able to find support and rise to $57 in less than two months.

    Read More

  4. Visa Stock, V - Technical Analysis Of Visa

    Oct 18, 21 12:24 AM

    Technical analysis of Visa stock. A look at its trends and support and resistance.

    Read More

  5. Technical Analysis Of Bitcoin

    Oct 17, 21 10:38 PM

    Analysis of Bitcoin's chart. Is it in an uptrend or downtrend and where is the support and resistance.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.