Gapped down on open negated opportunity. Although that TL connected to Thursday's low is kinda iffy being a double bottom with Friday's low. I wouldn't use it myself. But here is 5 minute chart with nice TL short after complete gap fill failed - overlapped yesterday's low but didn't reach close.
Going on this chart alone and without the benefit of context: why would you think of selling here? The trend is clearly up. Perhaps there is something a little higher that you are looking at?
if you asking me. Nope. Gap fill failed. Gud enuf once TL touch and go, and ShowMe signal added weight to it. It's a 5 minute chart after all. So that is the trend in play, not Daily.
I’m not sure, still learning. Like Maxinger said, I guess I’m looking only at the right side of the chart not the big picture. Need to work on that. On the other hand, I’m wanting to limit losses to 2 % of capital max, and so I put in a stop.I stuck to the plan.
PXD is an E&P company and is going to move as oil moves. Pay attention to the price of oil, and you better have a good idea of all the things happening that affect the oil price. If there is a peace deal in Ukraine this stock may gap down a lot. Be prepared for anything.
%% VERY Good upTrend\shallow good pullback/PXD BUYers are buying intraday + hourly WEEkLY support =244.777. YOUR chart looks fine. REALLY depends on your cost basis\gasoline going down , oil also\short term. 50dma is support also, but while profits ride\ i dont want to ride all my ETFs down again to 50 day moving average or 200dma ...........................................................................................................
You can see the futures price of oil in this link, but the quote is delayed. Look at the front month and compare it to the later months and see what you see. The price in the later months is cheaper than the front month, so beware. https://futures.tradingcharts.com/marketquotes/CL.html
I think we are talking about different charts. As you say gap closed and failed. Definite sell. I was talking about the previous chart.