Trading stocks is not easy. If it were, then everyone would be doing it. Since I am not able to monitor the market fulltime, my trading style is in a state of flux depending upon the current market conditions. For the past few months, my positions are very short term...3 days max...with very tight stops. I try to make entries/exits at certain moving averages and trendlines. My cardinal rule I try to follow (most of the time) is: Trading what you WANT the market to do, instead of what it IS doing is always dangerous. This blog is here to stimulate thought. Enter positions at your own risk.
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this is another stock with disciplined traders. look at today's price range. opens at 50sma...pop up to 50% fib...drops down to 20sma. that action was no accident. upside targets: 38% fib line (176.68), long term trendline (thin blue line)(180), 200sma...
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This chart shows a few things of note: * longterm support/resistance trendline, * double-bottom coincides with fib line * every rally since April/08 began with a gap up from the fib line or the longterm support/resistance trendline. * Today, the volume...
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