Day Trading Technical Analysis in the stock market
- Thread starter Arkasha
- Start date
I really have to stop jumping in right at the bell! That's going to be my working progress not to jump in at the bell and wait few minutes to see a setup! Took a loss on BURG and took a loss on AAPL right at the bell!
Then started to wait for a setup and caught one on MTSI. Price action formed elongated railway tracks right on the R5 pivot level, which told me price action just found support there. As soon as price action started to break the higher highs, I entered the trade and waited for price action to penetrate higher and got out of the trade with profit!
Then started to wait for a setup and caught one on MTSI. Price action formed elongated railway tracks right on the R5 pivot level, which told me price action just found support there. As soon as price action started to break the higher highs, I entered the trade and waited for price action to penetrate higher and got out of the trade with profit!
Just found another setup on MPC. Looks like price formed a support level and if price breaks this level this would be a good opportunity to short! I waited for price action beak the low of the peek and entered a sell trade, waited for price to break out and got out of the trade! Another text book trade!
Got the first trade of the day on ROKU. This stock opened up with a gap higher on positive news! I started watching this stock running higher and higher, there were multiple opportunities for a trade, I opened up 400 shares when price broke out of the high and then executed another 400 shares when I seen price action came back down and retested a low, found support there and started heading higher. Roku was perfect in all the right places. This is a perfect technical analysis setup! 800 shares traded on this trade!
Just caught another setup, I was a little bit late, but, I still seen that there was more room to drop on this formation. The pattern and the setup required more bottoming prices. Knowing this information from other successful trades only helps you with your next one! Patience is a must! Just sit and wait for the right opportunity to come to you, it will happen. I noticed the huge head and shoulders formation on the 15 minute chart, and then another smaller H&S pattern. Price action broke out of the neck lines, which confirmed for us the pattern is valid and price started to break the first low, and then broke out of the second low, I executed a sell trade with 1000 shares, waited for price to reach the next resistance area, which was a pivot point level, and got out of the trade with a profit! Once again perfect textbook trades!
I got another perfect trade setup on CDNA. We have a formation of what I call an inverted head and shoulders pattern, some what of a pattern anyway. Some call it a cup and a handle. This was a pure break out play, as soon as price action broke out from the peeks and broke through the previous low, it was a good opportunity to buy. Price was being supported by a pivot point level. I executed a buy trade with 3 thousand shares because I knew it was a break out play and a quick one at that! Trade entry was $33.58 and trade exit was $33.88
