How To Profit From Explosive Moves Intraday: The Side Door Entry

If you want to bank big gains as a day trader, by definition, you’ve got to be where the action and the momentum is.

The beauty of a crimson tape is that relative strength stands out like a green bean in a sea of red.

TDOC has been such a name.

Its online doctor business plan is front and center due to the coronavirus.

Indeed, TDOC has been striking all-time highs as the market has been plunging, putting it on our long radar.

On Monday, as the SPX crashed, TDOC rebounded off its 20 day moving average for the first time since setting an all-time high earlier this month.

A test of the rising 20 day moving average is what I refer to as a Holy Grail buy setup.

This is because of its power to signal powerful continuation moves over coming days.

Coming days meant Tuesday for TDOC.

Of course, there is always a T-Rex in the market.

The market is never straightforward when volatility is king.

In other words, chasing a textbook Trade Through Entry… on trade through the prior day’s high could cause whiplash.

For example, TDOC spiked above Monday’s high on the open, but if you chased a Trade Through Entry, you ended up top-ticking it and getting stopped out.

I alerted traders before the open on the Hit & Run private Twitter feed that we’d be looking to take TDOC long on a Side Door Entry. This is a pullback into the open gap (if a stock gaps open ala TDOC) or Bleedback into the prior day’s support.

TDOC pulled back to test the prior day’s opening range in combo with a test of its 50 HOUR moving average.

This offered a solid risk to reward long setup and we alerted members to go long.

We were filled at 129.63.

Half was sold within 5 minutes for a 4.30 gain in keeping with my swing method of Trim & Trail — selling half and trailing a protective stop.

TDOC continued to rocket and we took Gift Horse Gain on the 2nd piece for a near 13 point winner.

The Side Door Entry offers a good risk to reward strategy for capturing intraday runaways.

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