Stock Day Trades December 4, 2024 – How to Find Intraday “Runners”

In this video I look at one way to find stocks that tend to have large intraday trends. Big, relentless movements.

Of course we don’t know secure when they run, but there are patterns on the daily chart that seem to be pretty good at finding stocks with good run potential for daily trades. Where “run” means a big directional move, which of course means a nice potential profit if we catch it.

Even if they don’t go up, these stocks can still provide great day trading opportunities because if they don’t run, the stock hasn’t gotten past the daily pivot pocket to send it even higher, so it often stalls and sometimes reverses itself.

There is also often a good move that can be captured when price is heading towards creating one of these pivot pockets (I’ll come up with a more unique name because I see this term thrown around a lot and probably for different people). has different meanings). by breaking above the previous daily candle. So when we find these little pivot pockets that I call them, that’s when I tend to see really good trend moves.

Here are some examples of great pivot bags. While it would be nice to find 8 such patterns per day, some days I see none, other days only 1 or 2, but occasionally there are 5 or 6.

And remember, we need to see these before the big green candle occurs (or within a day, maybe two days after because there can still be a nice continuation up after the pivot). So when I scan I look for a strong uptrend followed by a 2 to 4 day move from the high (pullback), ideally with a small candle on the day I scan.

Then, if the price starts to rise the next day (if I trade the stock during the day) and it moves towards or above the recent candle high, it could be one of these runner days. And even if the pattern doesn’t complete, I only pick stocks with big daily moves anyway, so there are usually still some opportunities (just not “runner” opportunities).

SoundHound below is a great example. I find these stocks in the evening (December 3rd in this case) to trade for the next day (December 4th). So this chart, created a few hours after the open on December 4th, shows the pattern in motion. SoundHound opens with a strong move above the previous candle high and makes a good bounce. The pattern was already in place the night before, we just needed December 4th to get above the December 3rd candle and we were off.

At first glance, unusual machines (above) appear to form precisely this pattern. Big move up followed by a few candlestick declines. I don’t love this one just because it’s been sold out and been difficult to sell. I prefer if there is perhaps a longer selling day or just a small gap down and then selling dies down (see the great examples).

Below are the intraday charts for December 4, 2024

I’m definitely trying to improve my skills here. You’ll find that the good old TCs, rounded tops and bottoms, and double pumps still work great without all the extra work I put in. But hey, it’s fun and invigorating to keep pushing my limits.

All of these classic strategies that I still use and combine with this additional scanning and research are explained step by step in the Price Action Stock Day Trading course.

November 29th had some beauties. The scan is done the evening before (November 28th) to isolate some of these patterns (keep in mind I may find 0 to a few per day). Then we day trade the next day to capture the potential runner move.

Here are the intraday charts showing the details of the last daily candles (partially because the screenshot was taken the morning I was trading).

I did NOT take full advantage of it! But it’s still a work in progress.

That’s what I’m working on and I’m documenting part of the trip. If you get something out of it, great.

And just a reminder: There are no guarantees when it comes to trading. We cannot know whether something is working or not. We have to prepare for all situations. Know what you will do in different situations. All we can do is put ourselves in potentially good situations, take advantage when they turn out to be good, and limit our risk when they don’t.

If you are interested in learning my stock day trading method, check out the Price Action Stock Day Trading Course.

Cory Mitchell, CMT

Disclaimer: This article is neither personal investment advice nor buying or selling advice. Trading is risky and can result in significant losses, even more than deposited losses when using leverage.

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