Triangle, base, flag

Trade Example

GVA (Granite Construction Inc.)


Trading plan: Short trade
Date entry. 02/27/2008
Entry price: $33.60 Stop price: $34.70
Target area: $30 areas

Exit date. 02/29/2008
Exit price: 30.03
% results: 10.63
Result: $3.57
Risk/reward: 3.25

Trade explanation:
GVA formed nice 60 min triangle at 02/27/2008, and at same time it was nice bear flag on the daily chart. Setup was under 02/26/2008 low ($33.67) and I used stop above $34.70 (02/26/2008 high). Target was at $30 area because that was first strong number support area and also equal move support area. I always mention that for good target we need to follow volume and pace. On the 60 min GVA chart we can see that pace and volume increased and in that case we can expect to see exhaustion move what result with target area. Also note how GVA couldn’t break above 60 min 10sma (trend test area). Market helped us and GVA reached target area and it was closed at Friday (02/29/2008).

If anyone will have any comment or question please feel free to contact me.

Kind regards
Ivica Juracic

Setup chart:
http://www.ivicacharts.com/diagrams/2008/02272008gva.jpg

Exit chart:
http://www.ivicacharts.com/diagrams/2008/03032008gva.jpg
 
Education example

EQIX (Equinix Inc.)


Trading plan: Short trade
Date entry. 03/03/2008
Entry price: $68.45 Stop price: $71.50
Target area: $60 areas

Exit date. 03/06/2008
Exit price: 60.25
% results: 11.98
Result: $8.20
Risk/reward: 2.69

Setup chart:
http://www.ivicacharts.com/diagrams/2008/03032008eqix.jpg

Trade explanation:
On the setup chart we can see that EQIX consolidated at lows and formed weekly NR7 bar (narrowest bar in last seven days). NR7 bar is always signal for possible action after consolidation. On the chart we can see that the EQIX has room for break down until 200sma support area. That happen last week and we took it under $68.50. For stop I used gap down (02/29/2008) resistance area what was also high of the day. We can see on the intraday charts that EQIX had nice and steady move down without strong daily bounces and reached target area at 03/06/2008. With over all uncertainly market action I didn’t want wait for more and exactly 200sma weekly support area and we closed EQIX at Thursday (03/06/2008).

Exit chart:
http://www.ivicacharts.com/diagrams/2008/03102008eqix.jpg


If anyone will have any comment or question please feel free to contact me.

Kind regards
Ivica Juracic
 
Watch ideas: 03/20/2008

Long:

VRTX next earning date: Apr 30, 2008 http://www.ivicacharts.com/diagrams/2008/03202008vrtx.jpg

Short:

ABAX next earning date: Apr 24, 2008 http://www.ivicacharts.com/diagrams/2008/03202008abax.jpg

AEO next earning date: May 22, 2008 http://www.ivicacharts.com/diagrams/2008/03202008aeo.jpg

PCR next earning date: May 08, 2008 http://www.ivicacharts.com/diagrams/2008/03202008pcr.jpg

If you have any questions, please feel free to contact me
Good luck trading today!!!!

Ivica Juracic
 
Trade example

FTK (Flotek Industries Inc.)


Trading plan: Short trade

Date entry. 03/20/2008
Entry price: $15.97 Stop price: $15.20
Target area: $15 areas

Exit date. 03/20/2008
Exit price: 15.00
% results: 6.07
Result: $0.97
Risk/reward: 4.22


Setup chart:
http://www.ivicacharts.com/diagrams/2008/03202008ftk.jpg

Trade explanation:
On the trading results we can see that Friday FTK setup was our second trade. Day before FTK was nice to us and with nice 15 min base there was no reason to not try again. Setup was under 15 min base (under $16.00) and stop was above base ($16.20). After setup, FTK dropped very nice without tricks. On the weekly charts I saw that FTK had room until 200sma support area, but honestly, I didn’t expect that strong weakness and since $15 area is strong number support area I decided to close trade. It was day trade, and we god really nice risk reward and I think that we can be happy with it. FTK was classic move-rest-move trade. Rest (base) was our tool for good risk/reward.

Exit chart:
http://www.ivicacharts.com/diagrams/2008/03242008ftk.jpg

If anyone will have any comment or question please feel free to contact me.

Kind regards
Ivica Juracic
 
Watch ideas for Monday and education trade example


Trade example

Trading plan: Long trade
Date entry. 03/24/2008
Entry price: $38.10 Stop price: $37.75
Target area: $39-40 areas

Exit date. 03/24/2008
Exit price: $38.95
% results: 2.23
Result: $0.85
Risk/reward: 2.43


Setup chart:
http://www.ivicacharts.com/diagrams/2008/03242008prgo.jpg

Trade explanation:
It was classic day trade. Move-rest-move. We used 10sma bounce possibility for trend continuation and for equal move target area. Breakup pace and volume was strong and that was enough reason that we expected target area. PRGO has room for $40 area but last week market action didn’t supported more trend continuation. I think that is very clear trade.

Exit chart:
http://www.ivicacharts.com/diagrams/2008/03312008prgo.jpg



Watch ideas for Monday

Long
http://www.ivicacharts.com/diagrams/2008/03312008x.jpg
http://www.ivicacharts.com/diagrams/2008/03312008pg.jpg
Short
http://www.ivicacharts.com/diagrams/2008/03312008bucy.jpg
http://www.ivicacharts.com/diagrams/2008/03312008agu.jpg

If anyone will have any comment or question please feel free to contact me.

Kind regards
Ivica Juracic
 
Chart of the week

Symbol: VUG

TRADING PLAN

Entry price: above $62.07
Stop price: under $60.83

Target area: $65-66 areas

Chart explanation:

VUG consolidates under 200sma resistance on the daily chart which mean tendency for break up. Also it formed weekly continuation pattern what giving us good risk reward possibility. Setup is above last week high with stop under last week low what usual continuation pattern trading plan is. VUG has room for move up and daily equal move and that will be expectation.

Kind regards
Ivica Juracic
ivica@ivicacharts.com

http://www.ivicacharts.com/diagrams/2008/04282008vug.jpg
 
Watch ideas: for 05/05/2008

Long:

RIO next earning date: Jul 31, 2008
http://www.ivicacharts.com/diagrams/2008/05052008rio.jpg
ARRS next earning date: Jul 24, 2008
http://www.ivicacharts.com/diagrams/2008/05052008arrs.jpg
ALL next earning date: Jul 23, 2008
http://www.ivicacharts.com/diagrams/2008/05052008all.jpg


Short:

BJS next earning date: Jul 24, 2008 http://www.ivicacharts.com/diagrams/2008/05052008bjs.jpg
MAS next earning date: Jul 31, 2008
http://www.ivicacharts.com/diagrams/2008/05052008mas.jpg

If you have any questions, please email me or ask me in the trading room.
Good luck trading today!!!!

Ivica Juracic
 
Chart of the week (free article)

Symbol: MDC

Sector: Industrial Goods
Industry: Residential Construction

TRADING PLAN

Entry price: above $46.17
Stop price: under $43.12

Target area: $55-56 areas

Chart explanation:

After weekly downtrend, MDC consolidate and forming reversal pattern. On the weekly chart consolidate under 100sma resistance area and I will look for breakout and for move in to 200sma resistance area. It can turn to position trade. For stop I will use 10sma. We want see strong breakout with higher volume what will be indicator for buying interest. First resistance will be $50 as number and previous high and in breakout possibility we will see behavior at that area. Note that action can be whippy so we need to use proper stop. For start will be under last week bar.

http://www.ivicacharts.com/diagrams/2008/05052008mdc.jpg

Kind regards
Ivica Juracic
 
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