Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
Yet another H&S structure (with smaller fractal in red noticed a while ago). Now the structure is confirmed by a rising wedge which may be already complete or in its final stages. Tomorrow USB will report earnings. This could make the price swing and complete the wedge or break down from here. Either way, I will be buying puts today. This chart made me reconsider...
Head and Shoulder (Top)
Entry - $40.56 at close (Strong Bearish Candle for Entry)
Stop - $43.50 - Will adjust lower
Target - $33.00
Breakdown in financial - Review JPM, C, GS
USB
This USB chart is almost linear since late 2011 to date. Which is very nice, and preformed just under 200% since late 2011. USB is a strong linear chart for a passive investor.
It is beginning to fill out an ascending triangle. If this ascending triangle plays out - it is either a bullish case, or a continuation pattern (for very long term investors). This...
NYSE:USB
WHY
1. USB traced well pronounced head and shoulders pattern on D and W.
2. Other industry (finance) stocks such as GS, WFS also posted a reversal on W and M.
3. SPX500 seems to be looking south on W
TRADE DURATION and PROFIT TARGET
USB and market in general might be starting long bearish trend however here we target the distance to
- approximately...
This looks like an easy play. That candlestick on a support is a possible indicator of a reversal. The buy in would be its confirmation that it's in an uptrend.
Ideally should be done right before trading day close but here we go.
USB is in general uptrend, so long position is sought. Initial long at 54.60 pullback stopped out at 53.50.
Second entry with half position size at 52.75 pullback level, with subsequent long at 50 if pullback reaches here. Entry at 52.75 and 50 with stop at 49 was the initial plan. Expected...
