Thursday, May 16, 2013
ZTS long trade
ZTS never triggered, do not play such patterns just blindly on 5 min even though it appears like the 5 min shorting below is good. You get into the daily mess. The play on this is only long not short. did not trigger, do not touch
YOKU did not trigger
YOKU pattern that did not trigger. So no trade on this one. Learn to understand that if there is no trigger, just sit on hands and do nothing.
YHOO short
Another YHOO chart that was short lived, generally YHOO is better swing rather than day trade unless on unusual days since the charts do not have a good follow through. See why
WMT similar to ROST
This pattern is again very similar to the ROST I just posted. See how the consolidation pattern looks like, the charts or technical usually won't work till it goes above support or below resistance. Do not waste your time on day trade with such patterns. I played it for a mere $50 today
ROST swing long
This is a good swing above 66. But I was tempted to play it short on the 5 min but looking at daily consolidation, I did not play it. Even though it appears like the short worked, do not play such patterns, it tends to mess you with your chart reading long term.
The pattern is , short below support and below the 1st 5 min bar, if that breaks do not play it short anymore.
The pattern is , short below support and below the 1st 5 min bar, if that breaks do not play it short anymore.
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