I was thinking about this concept while I was driving after dinner. You do not need a fancy $500 Monthly subscription for an edge. Here is the Concept, You can build on this. Notice how the Murrey Math Oscillator works in finding the pullbacks with a trend. Experiment & create your edge . NOTE : EVERY PULLBACK TRADING SYSTEM WILL FACE TRANSITION ZONE, ITS...
SWKS has been trending well for about a year. There was a deep pullback in October 2014, which would have stopped most longer-term trend traders out of the position, but the trend soon resumed its prior linearity. This stock could have first been traded when it broke the 2001 high, in April 2014 at around $40, as the uptrend was already well established. Then,...
BEBE broke out above the 3.30 band of support under high volume. This came after a nice bottoming formation with the 150 MA sloping up as of breakout and as of now 50, 100 and 150 MA lined up nicely. Also the pullback experienced nice volume contraction. Enter on signs of intermediate term trend reversing to the upside. If this happens nicely, a move to around...
NUGT has put in a .618 retracement after triple divergence led it to break previous resistance with momentum confirming the break. Our decline was not a sharp decline at all hinting that this was price taking a breather on somewhat lighter volume. I am looking for price to continue to its 127 projection with stops underneath previous lows.
The crude oil prices rose 12 percent during the last two weeks of trading, from recent low at 46.66 to about 52 dollars today. The crude oil futures recent rally might show the beginning of its recovery to higher prices. Is that a sign of the plunge’s end? Politics, oil producers, and technical analysis (Bollinger Bands & RSI) give answers. Full blog post here:...
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
We're sitting atop the local higher low here. As soon as we establish a lower low, the targets below are where I would expect it to reach. There is strong support around $200, so if it is going to turn around, I would expect it to turn around there. Overall, I'm still pretty bullish, but we can't know for sure until we reach one of these targets and see what...
After nailing a 17% trade, the market appears to be overbought and hitting strong resistance. The volume says we won't break it this time, so I'm expecting a pullback to the breakout zone before making a trend decision. This isn't a concrete trade strategy yet, just a hunch. Look for possible topping patterns to confirm. We may reach slightly higher, but I...
Shorting GBP/NZD on confirmed retracement to trendline and to 61.8% Fibonacci level.
Confluence of factors for short set up: - resistance at ~0.9590 (also weekly resistance) - inside bar formation in pull back below resistance - 0.786 Fibonacci retracement/rejection - hidden divergence (bearish trend continuation) entry - below low of inside bar stop loss - above mother bar target - previous swing low or 1.272 Fibonacci extension
CVS has been trending well throughout 2013 and 2014 although there have been a couple of deep pullbacks in this time. Since the deep February 2014 pullback the trend has been good but not great. A wide stop would've kept you in the trade but there have been more linear trends in play which would be less stressful to manage. So saying, CVS has continued to make...
DAL had been a great trending stock for a couple of years but the 2014 correction was extremely deep (by the standards of this stock). More recently the June 2014 high was broken but price remained fairly indecisive just above it for a few weeks. Staying above the previous resistance, however, is far superior to dipping below, so this was the first suggestion...
I've been stalking longs in USDCAD for months now. It takes patience to find entries. As long as major swing lows are not taken out, then everything is is basically just a complicated pullback. Canada spent most of November pulling back to its lower median parallel. A news release caused the final weak hands to get shaken out. I was happy with the way price...
The markets were skittish yesterday so the breakout list today is not the best. As a longer-term trader I would not want to trade ESRX. While this stock has been bullish for years the pullbacks can be very deep. Trends only last at the most for a few months. However, this may suit other traders who like to trade shorter-term. The first gap up passed $80 (and on...
ODFL is a good trending stock, but volume is fairly thin. This can affect liquidly when entering and exiting trades. The weekly uptrend has been long and linear - the pullbacks have become a little deeper but are more than acceptable on this timeframe. On the daily chart, however, the pullbacks have caused a bit more of a concern. During early 2014 there were...
ABC has been in an uptrend for many years - with some periods of pullback and sideway movement on the way. In more recent times a mini pattern had emerged (on the daily chart) of a move up followed by several weeks of consolidation. This can be frustrating, even for longer-term traders. But since the gap up (on earnings and higher volume) on 30th October a...
Entered here Stop below the previous swing low Target at the previous swing high. In hindsight, this formation does appear to look like a head and shoulders. I'm going with the idea that the higher time frame is still in an uptrend as indicated by the trend line.
Bullish Engufling near trend line support. Stop below wicks and trend line. Target set at swing highs.