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Margo's Swing Journal
- Thread starter margo_trader
- Start date
As I mentioned before, 90% of my trades come from the daily / weekly charts. However, I do use the 60 minute charts from time to time, particulary when they are at extremes. IMO, there's a lot of stuff out there that fits this criteria. So, I'll post a few lower risk setups I'm watching based on the intradays before I post any longer term setups.
The first is simple. I'll short as close to parallel line resistance ($21.25) with a tight stop. As you can see, it closed right at it Friday. If it happens to gap over it at the open, I'll probably avoid it. My first target will be at the lower parallel line followed by the upper gap.
The first is simple. I'll short as close to parallel line resistance ($21.25) with a tight stop. As you can see, it closed right at it Friday. If it happens to gap over it at the open, I'll probably avoid it. My first target will be at the lower parallel line followed by the upper gap.
Attachments
Another view of IBM.....the 60 minute. I've posted the daily several times so no need to do so again. I still have a small short in this and probably won't add to it on a neckline violation. However, I'm still going to watch it since I'm likely to change my mind if we see a hard push down.
Attachments
I'll look over some daily charts and post some others I'll be looking to trade this week in a bit.
John Q Public
Guest
Do you ever do those Short Skirt trades?
Do you have nice legs?
Do you have nice legs?
stokhack,
That's exactly the type of setup I like to trade. Sheesh. Notice the parabolic rise directly through the 200 MA not to mention the gaps. Thanks for the heads up. I've already go an order loaded to short at $26.00. A full retrace over the long term is probable. By the way, save your chart as a "gif" when you want to post.
That's exactly the type of setup I like to trade. Sheesh. Notice the parabolic rise directly through the 200 MA not to mention the gaps. Thanks for the heads up. I've already go an order loaded to short at $26.00. A full retrace over the long term is probable. By the way, save your chart as a "gif" when you want to post.
Quote from stokhack:
Chartgurl,
take a look a kosp, little overextended and ready for a pullback, what do you think? By the way Margo, great picks.