Thursday, May 16, 2013

ARUN swing

Like ARUN swing play above 18. Looks good to me on weekly and daily charts. Check it out

AAPL support_resistance

Perfect play of support resistance. Check out the markings on the daily  chart.

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.