Behold the power of the hairy bottom! This is GE on 1 minute bars and a picture perfect hairy bottom setup dead on the PP pivot at 10 minutes into the market.
The hairy bottom resolved above the PP at 9:43, accompanied by a parabolic BUY signal.
The trade got some additional confirmation from a VXN cross at 9:45.
The NYAD MAs are upslope from the open and the parabolics fire a BUY at 9:46.
I've warned previously against putting too much stock in NYAD parabolic signals until after the first 30-45 minutes, but in this case I liked the way the NYAD was riding above the double 8s channel, and entered the trade.
This was a real quickie as GE shot for R1 at 10:00, at which point all the technicals started to deteriorate. . and I closed the trade.
Total time in trade was 18 minutes and the net gain was only $.12, but I followed my trading plan signals so I've no regrets.