Range Contraction, Range Expansion

Per Jamie's post above, HCPG definitely had some nice picks today. If you do not have an evolved scanner and a good eye for picking the best setups, a service like HCPG can help orient you in the right direction.

A key to these nice setups is to look for range contraction in an active market and at appropriate zones on the daily chart. BIDU had broken above a key pivot level on the daily chart (bottom) and then contracted for a couple of days. Today BIDU was very active (hitting my intraday scanner) in early trading and then setup range contraction intraday (symmetrical triangle, penant). The setup led to 3 WR 15min bars (upper chart), plus a tad more. An aggressive trader might have entered earlier based on the daily setup.