There is a saying that appears in a lot of books "Plan your trade and trade your plan". I never did this. I always keep a trade that is on profit until it looks like the trend changed, I never plan my exits. This is the first trade where I'm gonna make a plan and trade it, no matter what happens.
The US market opens in 10 minutes, and I'm gonna watch for the...
I am already short at 35.35 and waiting for neckline test. It's intresting that 34.95 was previously tested so it's a nice confluence with possible target based on H&S :)
Testing the blue line for possible support but too many times is a concern.
for a overall safe bet, over $39.05 could offer a excellent entry for long term hold
Here is the original $T chart showing the failed breakout.
Looking for a channel breakout to the upside within the next 2 weeks. Conservative Target is 36.05.
www.stocksetups.com
Remember the famous old market indicator that Robert Farrell invented back in his days at Merrill Lynch? It was the GM indicator. It simply said that whatever GM was doing was an indicator for the US economy and market. GM was a leading indicator for many years until GM became a bloated, non-competitive force in the global automobile market.
Now comes AT&T. ...
