Should be some clear trades on TWTR. I'm going to trade the potential channel; the break of support or resistance. I hold a lot of swing trades but TWTR will be day trades. It will be important to use the lower time frames to get the entry and exit.
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Looks like the top of the chart got cutoff. If it gets there, 19.79 is really tough resistance.
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Looks like the bearish reversal candle on the hourly this morning may of been the play of the day. There is a possible bearish continuation pattern on the hourly, and 18.70 is very clear resistance. We'll have to see if we get another leg to the downside today, could run out of time. The daily will still print a reversal candle unless TWTR sees a run into the close.
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Almost time to flip long on TWTR. One more leg down on the hourly would put TWTR at support and oversold on the hourly, which would be the ideal entry.
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This trade has worked perfectly so far. Hopefully we can get some market help early next week and this will hit my target of 18.68. Because of the low volume due to the holiday I'm swinging this long position; my stop is right below the low of today and the 200ma 17.37. Depending on what the overall markets are doing next week I might tighten it up.