Chart explanation: HOGS forming weekly triangle. Last try is third try what can lead in to strong selling and with market moment could give us nice action. On the other side like to note that if third try wonât work we can see strong reversal (bounce) and because of that next week will be very important. HOGS have plenty of room for downside action but expectations will depend on start (pace and volume).
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What I'm Watching
- Thread starter xpertstocktrader
- Start date
Chart explanation: In the live trading room we followed CML few days and already took intraday setup as day trade. But on the weekly chart we can see that 3d CCI possibility giving us chance fro swing trade and Iâm looking for another setup (room traders can add) above $13.00. Weekly 3d CCI setup is clear and we can see on the 60 min chart nice consolidation what can be used for better risk/reward trade.
Good luck all
Good luck all
Attachments
my pleasure
Chart of the week
Date: 05/24/2010
Symbol: AZO
Company Profile: AutoZone, Inc. operates as a specialty retailer and distributor of automotive replacement parts and accessories. Its stores offer various products primarily to do-it-yourself customers for use in cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.
Sector: Services
Industry: Auto Parts Stores
TRADING PLAN
Entry price: long above: 184
Stop price: stop under: 181.80
Target: 200 areas
Chart explanation: AZO generally holding much better then overall market. Also forming daily flag pattern and 15 min triangle what is time frame for trading plan. Because of that AZO can be used as day trade and as swing trade. It will depends on breakout action and volume.
If anyone will have any question please feel free to contact me.
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Wish you all good trading!!!
Kind regards
Ivica
Date: 05/24/2010
Symbol: AZO
Company Profile: AutoZone, Inc. operates as a specialty retailer and distributor of automotive replacement parts and accessories. Its stores offer various products primarily to do-it-yourself customers for use in cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.
Sector: Services
Industry: Auto Parts Stores
TRADING PLAN
Entry price: long above: 184
Stop price: stop under: 181.80
Target: 200 areas
Chart explanation: AZO generally holding much better then overall market. Also forming daily flag pattern and 15 min triangle what is time frame for trading plan. Because of that AZO can be used as day trade and as swing trade. It will depends on breakout action and volume.
If anyone will have any question please feel free to contact me.
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-------------------------------------------------------------------------------
Wish you all good trading!!!
Kind regards
Ivica