[isatrader]

On IBD they noted an alternative buy point would be on pullback to the 50DMA. Would that be on the 2hr chart? That's what I did - added to FCEL @11.07 which was at the 50DMA on the 2hr chart. However, it didn't have above volume when I purchased it about an hour after open, but hour later volume came in and the stock is up 11%. I was hesitant since it didn't have the volume at the time - but I broke my rules hoping it would work out - got lucky I guess. I was also watching support at around 10.60 - 10.75. Do you ever purchase at support then wait for the bounce? Thanks I'm learning how to read all the different time frames.

The 50DMA is the 50 Day Moving Average. So won't find it on the 2 hour chart unless you use an approximation to adjust for the time difference. But well done on the trade.

Pullback entries are the opposite of breakout entries, as you want to see the volume dry up on the pullback at key support levels to very low levels, and that is the signal to enter, as it shows that there is a lack of selling pressure in the stock, and so the path of least resistance is then higher. It is an area overlooked by most using Stage Analysis as can be difficult to master, which is why I've developed the 2 hour chart techniques that use the Stage Analysis breakout methods that people are more comfortable with but on the lower timeframe. So that they are actually entering on a lower risk pullback instead in an already strong stock in Stage 2.