This trade makes trading look easy. First I was looking to get pushed up to the daily resistance of several weeks ago 32.50. It tried and just didn't happen. Momentum shifted , ( RSI sloping down) while the stock could not make a new high. It showed weakness, and I was able to short it near its today's top. I was ready to exit at the first sign of strength , having in mind it still may get to that daily resistance 32.50 ( look left on daily chart). I was right immediately ( doesn't happen too often) then the stock traded exactly by the book, traveling between the intraday support and resistances , with no surprises. Gain was $1.00. Just got lucky staying in it during all the swings between supp res lines .
GLUU
I got stopped out with 4 cents loss was hard to trade this EOD, since the major move was already done in the AM
CRR
I took this short EOD just for the hell of it, because had bounced of major daily resistance , broke even, scratch.
Stay disciplined and green
Salute
Hello, what scanner and the parameters do you use to find this stocks to play. I've really learnt how to use RSI from reading your posts. Thanks
ReplyDeleteSorry just saw ur comment..Keeping it very simple: Biggest runners, more overextended the better, then I keep flipping through the charts, I use lot of monitors too, to pin up the ones with RSI over 70, then manually I keep looking how they develop,I choose the best one and focus for entry one at a time. Hope this helps
ReplyDeleteThanks for the info :)
ReplyDelete