Can't say I'm happy about my entry on amzn. Paid at the highs and once again it sold off near market close into a bearish pin bar. Unless the market turns around soon, I'm getting stopped.
I'll look for stocks breaking support rather than stocks breaking resistance. As far as consolidation goes, that's just part of the game but I tend to not trade stocks that are too range bound.
Just took DECK short actually at 63.53 / stop at 74.70
http://screencast.com/t/8Z3GDLrUzkK
How is that "a ton" of confirmation??..I'm waiting for a breakout bar, and 1 more bar to confirm the move..
I hardly pay attention to intraday bars. I have 1hr charts up but they don't really serve much purpose to me. I cant/dont want to stay glued to my screen all day.
Trading is hard...
In hind sight it's a perfect world and its easy to see the entries after they become obvious setups. Personally I dont see a trend line on BIDU or AMZN.
And you might be selling into those areas like other traders but people following the resistance breaks are looking to buy on the bet that...
Bought the high at 9.42 and still holding :( . Worst part is I knew it was against the rules of my method but I went out on a limb anyway. Guess I'll pay for that in the coming days. Stop at 5.99, maybe volume will come back.
Bidu daily. Nice strong green bar through resistance. Lets see if tomorrows candle gives us a confirmation.
http://screencast.com/t/25A5CbTVF
Amzn chart showing the swing highs and the break of the most recent swing. Looks like I'll take this trade near the close if all goes well...
piece of shit. Just closed ALL my cvx after trying to put in a buy stop order and accidentally put in a buy limited and it closed me out!.
Had to reshort now at these lows.
shorted 420 at 109.46
covered 120 at 105.88 429.60
covered 300 at 105.89 1071
shorted 100 at 105.87
long some FRO at 9.42
Taking a bit of a risk on this one because I should be waiting till friday to take this considering I'm trading this off weekly bars. Last week we closed above the resistance, but im hoping that the high volume keeps FRO above water this week...