Profit Taking !!
A stock opened up higher ,the buyer's were getting a very good profit at that opening so you can expect some profit talking.
It got rejected from the high's along with the market . Then , again the stock tries to go higher but fails again and that's the confirmation for me to go short .
As per my regular trades I had a pretty small stop loss , which usually works from me but today the market was a bit choppy not so attractive at high's so I gave a bigger room for the stock and with the market falling from the high's BA also reacted and gave me the target I was looking for.
What I need to teach you from this is , you must always work in...
Well, after 6 months away from charting I'm back at the keys.
Here's the current setup and sentimental for swing trade on $BA @ 156.03
Strategy calls for use of RSI and Gann fan drawn on the technical window.
Setup is looking for continuation of Bear Trend
Key price points on Gann So9 to come.
-Bucks
10.29.20 Since I ran of time...I will post the Wheat contract...see what you think. From my perspective...if you are earning to improve the quality of your analysis it doesn't matter if you are looking at an equity or futures. So take a glance even if it is not your market.
Greetings, I hope you all are well!
I use this strategy with the OBV indicator which I have to use 3 moving averages inside the OBV pane, but the problem is that the scales of the two are not fixed together which creates terrible dislocation of the indicator as one. Is there a way to fix this, please inform me.
Appreciate all your time and efforts!
Mason
