How to find the best stocks to trade using Pro Scan Volume
Our Pro Scan Volume Indicator is revolutionary in that it gives you the most accurate and up to the minute volume alerts that are possible. They are all based on historical volume, and our proprietary algorithm adjusts them real time every second while not killing your CPU's resources!
Lets look at some of the charts of the stocks our volume indicator found.
Example of 5 min chart with our Pro Chart Fib Retracements. Stock CHKP (6/04/2001)
As you can see from the volume scans above, CHKP was the leading volume stock in both Daily, Hourly, and 5 Min Time frames! Bringing up the chart, you can see that the stock was down significantly on very large volume.
Typically stocks that have big trending moves will retrace part of the move and then resume their trends. This is exactly what happened here.
Using our Pro Chart Fibonacci Retracement and Time Extension tool, you would have went short at the left arrow which coincided with a Fib Time Extension level. You can see that CHKP rallied back up to the first Fib retracement point a second time and again at a Fibonacci Time Extension level and then sold off again breaking and going on to new lows for the day.
This example illustrates how to use Pro Scan Volume to find the best stocks to trade, and use our Pro Chart software to find the most high probability entries!
Example of 5 min chart with our Pro Chart Fib Retracements. Stock PDLI (6/04/2001)
This example is of a different stock, during the SAME trading day. Our first example CHKP above, obviously was in a strong downtrend and the stock above is in a moderate uptrend starting off the day. The market during this time of the day was actually in a strong downtrend which would have had you holding off buying these Fib levels until and only after they held.
This is an example of where the 'art' of drawing in Fibonacci retracements comes in. This stock was one of the few on our list that had above average volume. It was in a clear uptrend and even was initially going up as the market sold off. If you had drawn in the Fibonacci retracements you can see that the stock fell right back through ALL of them, but did manage to find its low at an exact Fibonacci time extension point. You often times need to find the low of the previous swing during the previous days trading.
In the example above, we plotted our Fibonacci levels based on the true last swing low (from the day before) and today's swing high. Using these correct levels, you can see that the stock retraced to the 50% Fibonacci level before resuming its STRONG uptrend. Notice how this stock rallies straight through three projected price targets before finally stopping just pennies above our forth Fibonacci Price Target. This stuff works, and you really need to gauge the stock's strength and market strength before deciding when and where to get out. There is always a risk that the stock will reverse at a price target, but if the stock goes immediately through it, then hold on till the next one.
Our software found this stock BEFORE it made this huge move, giving you the opportunity to pick up over 10 points in less than just 2 days!
Our Pro Scan Volume gives both day and swing traders alike, the edge they need to find the absolutely BEST stocks to trade. Volume often times proceeds price, and with our software you have equivalent tools that the large institutions use.
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