Here you go, 61.73, might go much lower, but that's the 1st target price to cover, the strategy should be covering 1/2 position, if the trend continues, just hold 1/2 shares to cover at lower prices.
Making $5K with $20K each month
- Thread starter PennyTrader
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Wow, this short entry turned out a very good one, AMZN heads to $61, almost a quick $1 drop.
AMZN went to the low 61.06, could take a long and sell around 61.3- 61.4. Again, this is a counter-trend trade if going long. All indicators are pointing down on higher-timeframes.
hey, i encouraged you to post a sweet one! heh.
oh, i'm able to see it. i just tend to get shaken out if i'm in smaller timerframes; most of my trading is off of:
-> find a bunch of stocks which have had action, and *may* continue.
-> use 10 and 15 minute intradays.
-> level 2 as i can use it (less so on bigger stocks like RIMM).
it's great to see / read someone else who is doing stuff and is willing to show how they do things. my RIMM entry should be pretty obvious on a 15 minute chart (stock seemed to break up at 10:30 and couldn't hold it, but was acting weakly for the day)
oh, i'm able to see it. i just tend to get shaken out if i'm in smaller timerframes; most of my trading is off of:
-> find a bunch of stocks which have had action, and *may* continue.
-> use 10 and 15 minute intradays.
-> level 2 as i can use it (less so on bigger stocks like RIMM).
it's great to see / read someone else who is doing stuff and is willing to show how they do things. my RIMM entry should be pretty obvious on a 15 minute chart (stock seemed to break up at 10:30 and couldn't hold it, but was acting weakly for the day)
Approaching to short target 61.50:
Going short - notice volume change indicator:
The last two trades:
Bought 61.12, sold 61.41, went short 61.45:
Bought 61.12, sold 61.41, went short 61.45:
For this AMZN, I use 150 ticks chart as shown above, the timeframe is shorter than 5 minutes, but it works well for some reason. Here is the 5 minutes chart, it wants to bounce, trying to form a small uptrend channel. let me take a look at the charts on RIMM.
This RIMM could see resistence around 153.4s.
on 15 mintues chart, 153.4s is the resistence, also a major fib level. I think it might trade around this area and might start to fall if cannot pass 153.60 (another major MA).
on 15 mintues chart, 153.4s is the resistence, also a major fib level. I think it might trade around this area and might start to fall if cannot pass 153.60 (another major MA).
RIMM on 150 tick charts:
