I have the first trade of the day executed on $AMD. I can see an inverted head and shoulders pattern with multiple trade entry levels. Then there's another smaller inverted H&S pattern which price broke through at the same time as the other one! So we have a double pattern confirming a move higher. Price action broke an important trend line/neck line, which told us that the double H&S patterns are valid and price will look to go higher. There are multiple levels resistance and price started breaking all of them. I entered the trade @ $27.49 with 2 thousand shares just as price action broke through the first level of resistance, my target was the last level of resistance. I got out of the trade @ $27.78! The correct technical analysis never fails! Follow the rules that govern tech analysis and you can stay in the green!!!
Here is another great setup, perfect text book scenario! $INTC has been dropped extensively for a few weeks already, so I was looking to short it, I just needed to wait for some sort of setup to occur and show that it is going to continue heading down! Sure enough, I started to see the setup! We have price action coming back up to to test a pivot point level, looks like price broke through it higher, but, came back down below the pivot point, and started to resist it perfectly, telling us that price will look to drop! I have drown a few trend lines, and looks like price is breaking through them. I waited for price action to break the second trend line, which confirms a move lower. I sold INTC with 1000 shares @ $46.35 and got out at $46.17! There was a second opportunity for a trade when price action started to break the lowest low, as soon as that happened I opened another sell trade with a limit order of $45.99, as soon as price reached that number I automatically got in the trade. I waited for price action to reach the next support level, which was a pivot point, and got out with profit!
I noticed a formation on UBER, it looked like an inverted head and shoulders pattern, as soon as price action broke the high of the right shoulder, I opened a buy trade @ $43.43, waited for price action to penetrate the higher resistance level and got out of the trade @ $43.90 with a thousand shares! This was a risky trade because uber just opened up with its IPO, but the pattern was strong and the high of the peek was broken, confirming a move higher!
I'm seeing an amazing trade setting up on AMD. I've got multiple signals going off on different time frames. The most important information I found, was the daily chart showing it has made a bottom with railway tracks formation! On the 15 minute chart we have what looks like an inverted head and shoulders pattern which is supporting a move higher! The head and shoulders pattern is my favorite pattern of all time, because it works itself out most of the times! On the 30 minute chart we have a distinct inverted hammer that found support at a pivot point and at the Fibonacci retracement level of 50%. We have multiple strong signals and valid confirmations that price action will be heading higher! My trade entry was $27.08. I got out of the trade exactly at the pivot point resistance level, as soon as price action touched the pivot, I was out of the trade with a profit! This was just a strong and valid setup!
Another green day. Just have to find whats moving and see why its moving and where its moving too, and when we have the answers, we have a trade on our hands!!!
I missed the morning today, figures, the most influential moving day and I miss it! See you all tomorrow !!!
So I took a trade just now, I had to, it was a classical formation there. I wasn't even going to trade today cause I missed all the action in the morning, but, this goes to show you that a trade is hiding anytime of the day. ROKU showed a breakout pattern that is about to happen. On top of this if the break was going to happen it will definitely drop because price action was going to break through a supporting pivot point level! As soon as ROKU price action started to peek its way down, I executed 1000 shares and waited for price to go down a bit and got of the trade with a profit. I love finding these pattern, I just love it, because you cannot be wrong if you reached the correct technical analysis, and that's what I have mastered. Lets look at the chart.
On the way to sunny Delray Beach Florida, will be trading from there for a week, and, I might of gotten a funding situations, Will discuss the details after vacation. Ill be here tomorrow!!! If the funding comes through ill be trading publicly!