SHLD gaped down big 3 days ago and since that time I kept it on my focus list to see what it would do. Today the stock gaped down again but this time with some clear bullish action. This is a nice C&H pattern (but also could be read as a nr7 contraction sectup). Either way, there is an orderly bullish action a very shallow pause with volume contraction and then a 100% extension.
Most of my trades these days are in the direction of the major trend so it was a bit hard having the 5EMA and PDL as potential resistance points, but SHLD did not have any trouble penetrating those areas.
10 comments:
Great Trade Anarco!
Looked like a bull flag to me as well on the contraction. Marked in my diary as a trade I just missed on the day despite being in my watchlist, then I happened to read this entry, thanks and well done!
Andrew
Hey NYC Trader~
BCRX was a beaut! I am glad you caught it.
Cheers,
Hi Andrew!
I also miss more than I catch, but having a a watch list is very helpful to me.
Cheers,
Nice deal. How many in your WL? Various groups? Thanks
Nice trade Anarco! I was watching SHLD early but I did not pay attention closedly and I missed the move.
Hi bl!
I have a Focus List (FL) and a Watch List (WL). My FL is comprised by stock that caught my attention from news, other blogs, scans, etc. The FL is the center of attention at the start of the day. My WL is a static set of names that I follow on daily basis; I mark S/R levels in the evenings and study their daily charts.
My WL currently has the following names: AAPL, ABX, ACI, AEM, AMZN, AXP, BA, BUCY, CELG, CLF, CNQ, CNX, DIG, DUG, ENER, FCX, FWLT, GS, HAL, JPM, MEE, MOS, MS, NXY, NUE, OIH, PBR, POT, RIMM, SKF, SLB, SPY, SRS, SU, V, VNO, WFC, X, XOM
What do you think about the list?
Cheers,
Hi Anarco,
Those are great WL. I'll incorporate them on mine too! Tnaks a lot for sharing your WL.
Anarco,
thanks for the FL/WL. Thoughts: 1)weighted in the right volatile groups-comodities, finance. 2) I'd add insurance:hig pl xl pgr afl met pru cna ago. THEY MOVE. autos, gaming/leisure? 3) I have FL/WL but it's too much work to do do daily gaps and I'm not automated like most. Insurance work well today without much prep work... just looking at the 5 or 10min charts at the open and being aware of the 10am re news. I need to focus my attention on a very small FL(or group WL ...but one only!!) like: >+8% >500k stocks today: 10@$4-10 4@11-20 3@>20 5@15-25. Many of the +8% ones keep going and right from the open: IVN SVR but worth it to keep an eve on.
Thanks for sharing your thoughts.
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