Another nice trade was on Square Inc. This stock had dropped extensively at yesterdays close and continued dropping through today's open. Price action had made a support area just before rebounding higher, and then started to drop some more breaking important levels and the previous important low, signaling more lower pressure. I waited for price action to break the important low, which was a support level, and executed a sell trade
Day Trading Technical Analysis in the stock market
- Thread starter Arkasha
- Start date
Took another trade on AAL, this was more of a scalp trade. Price action had broken through a previous resistance level and after breaking through it, it came back down to retest this area, price found support and started to head higher!
Another trade execution happened on AT&T. there was a head and shoulders pattern visible on the 5 min chart, so this one was easy, as soon as price action broke through the neckline, I executed a sell trade for a quick scalp trade, level 2 was showing more sellers than buyers at the time of execution!
Another trade execution happened on AT&T. there was a head and shoulders pattern visible on the 5 min chart, so this one was easy, as soon as price action broke through the neckline, I executed a sell trade for a quick scalp trade, level 2 was showing more sellers than buyers at the time of execution!
Took another trade on BSX. This one was a small loss! I actually though this was going to be a good trade. I started to see a head and shoulders pattern forming, and just before there was a huge head and shoulders pattern, which looks like worked out. Price action was supposed to complete the pattern with another drop, because it found perfect resistance at the previous H&S neckline, but, in actually price used the neckline as a support area and started heading higher forming railway tracks on the 5 minute and significant hammer on the 15 minute charts confirming a move higher, as soon as I seen these confluence of events I got out of the trade!
I love the day trading world, its an amazing place! I enjoy it so much I can literally trade the whole day picking out patterns, formations, support and resistance and etc!
A great opportunity showed itself right out of the gates on OLED. This was a great trade with outstanding confirmations! This stock has gaped up extensively after yesterdays closing. At today's open, price action marked an important level of resistance. When price action started to break that strong area of resistance, I executed a buy trade, waited for the momentum to settle down and exited with a profit! This was a great text book trade! Price action made this extensive move while the market was closed, it was fair to think that prices will continue heading up when the market opens, as it did!
A great opportunity showed itself right out of the gates on OLED. This was a great trade with outstanding confirmations! This stock has gaped up extensively after yesterdays closing. At today's open, price action marked an important level of resistance. When price action started to break that strong area of resistance, I executed a buy trade, waited for the momentum to settle down and exited with a profit! This was a great text book trade! Price action made this extensive move while the market was closed, it was fair to think that prices will continue heading up when the market opens, as it did!
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Here comes another profitable trade on WW! This stock went up extensively on earnings report just after the close yesterday. When price action opened on Weight Watchers I started seeing important signals. It seems price action was respecting an important trend line. Each time price went down, it came down and tested the trend line, and each time, price has respected the trend line, bouncing up right afterwards every time! Price action respected the trend line and it did so with meaningful significant candlesticks. Price action never went below the trend line, signaling an upward movement. Notice how price action made constant higher highs signaling that prices will continue heading in the upper direction at least for a little bit!
Took another quick trade on BAC, I thought there was a break out in affect, but, in all actuality price broke the resistance area but still got rejected. There was not a lot of signals here, I shouldn't of been in this trade. Took a small loss and continued looking for other opportunities!
The next trade was on ZIXI. Once again, I shouldn't of been in this trade neither. There was a false break out occurring, and because there were no other signals I should of knew it wont work itself out! Once again took a small loss as soon as the break out failed!
The next trade was on ZIXI. Once again, I shouldn't of been in this trade neither. There was a false break out occurring, and because there were no other signals I should of knew it wont work itself out! Once again took a small loss as soon as the break out failed!
ATVI stock had a major drop while the market was closed. I was expecting the stock to drop even lower, but it began to head higher. I got out not at the maximum position, but rather the minimum! The first thing I recognized was the head and shoulders pattern, I drew a trend line and a neckline, looks like price is abiding by the trend line. At one point, price action starts heading up and hits the trend line, finds resistance at that trend line and starts to head down. Since we know this stock is dropping since yesterday, were looking for selling opportunities. I waited for price action to break all the trend lines, and as soon price action broke the neckline I executed a sell trade!
Mind sharing your MAs settings?