Trade Example GVA (Granite Construction Inc.) Trading plan: Short trade Date entry. 02/27/2008 Entry price: $33.60 Stop price: $34.70 Target area: $30 areas Exit date. 02/29/2008 Exit price: 30.03 % results: 10.63 Result: $3.57 Risk/reward: 3.25 Trade explanation: GVA formed nice 60 min triangle at 02/27/2008, and at same time it was nice bear flag on the daily chart. Setup was under 02/26/2008 low ($33.67) and I used stop above $34.70 (02/26/2008 high). Target was at $30 area because that was first strong number support area and also equal move support area. I always mention that for good target we need to follow volume and pace. On the 60 min GVA chart we can see that pace and volume increased and in that case we can expect to see exhaustion move what result with target area. Also note how GVA couldnât break above 60 min 10sma (trend test area). Market helped us and GVA reached target area and it was closed at Friday (02/29/2008). If anyone will have any comment or question please feel free to contact me. Kind regards Ivica Juracic Setup chart: http://www.ivicacharts.com/diagrams/2008/02272008gva.jpg Exit chart: http://www.ivicacharts.com/diagrams/2008/03032008gva.jpg
Ivica, How do you (if you do) factor the overall market in your trading? I think it adversely affects how trades are handled.
Education example EQIX (Equinix Inc.) Trading plan: Short trade Date entry. 03/03/2008 Entry price: $68.45 Stop price: $71.50 Target area: $60 areas Exit date. 03/06/2008 Exit price: 60.25 % results: 11.98 Result: $8.20 Risk/reward: 2.69 Setup chart: http://www.ivicacharts.com/diagrams/2008/03032008eqix.jpg Trade explanation: On the setup chart we can see that EQIX consolidated at lows and formed weekly NR7 bar (narrowest bar in last seven days). NR7 bar is always signal for possible action after consolidation. On the chart we can see that the EQIX has room for break down until 200sma support area. That happen last week and we took it under $68.50. For stop I used gap down (02/29/2008) resistance area what was also high of the day. We can see on the intraday charts that EQIX had nice and steady move down without strong daily bounces and reached target area at 03/06/2008. With over all uncertainly market action I didnât want wait for more and exactly 200sma weekly support area and we closed EQIX at Thursday (03/06/2008). Exit chart: http://www.ivicacharts.com/diagrams/2008/03102008eqix.jpg If anyone will have any comment or question please feel free to contact me. Kind regards Ivica Juracic
Watch ideas: 03/20/2008 Long: VRTX next earning date: Apr 30, 2008 http://www.ivicacharts.com/diagrams/2008/03202008vrtx.jpg Short: ABAX next earning date: Apr 24, 2008 http://www.ivicacharts.com/diagrams/2008/03202008abax.jpg AEO next earning date: May 22, 2008 http://www.ivicacharts.com/diagrams/2008/03202008aeo.jpg PCR next earning date: May 08, 2008 http://www.ivicacharts.com/diagrams/2008/03202008pcr.jpg If you have any questions, please feel free to contact me Good luck trading today!!!! Ivica Juracic
Trade example FTK (Flotek Industries Inc.) Trading plan: Short trade Date entry. 03/20/2008 Entry price: $15.97 Stop price: $15.20 Target area: $15 areas Exit date. 03/20/2008 Exit price: 15.00 % results: 6.07 Result: $0.97 Risk/reward: 4.22 Setup chart: http://www.ivicacharts.com/diagrams/2008/03202008ftk.jpg Trade explanation: On the trading results we can see that Friday FTK setup was our second trade. Day before FTK was nice to us and with nice 15 min base there was no reason to not try again. Setup was under 15 min base (under $16.00) and stop was above base ($16.20). After setup, FTK dropped very nice without tricks. On the weekly charts I saw that FTK had room until 200sma support area, but honestly, I didnât expect that strong weakness and since $15 area is strong number support area I decided to close trade. It was day trade, and we god really nice risk reward and I think that we can be happy with it. FTK was classic move-rest-move trade. Rest (base) was our tool for good risk/reward. Exit chart: http://www.ivicacharts.com/diagrams/2008/03242008ftk.jpg If anyone will have any comment or question please feel free to contact me. Kind regards Ivica Juracic
Watch ideas for Monday and education trade example Trade example Trading plan: Long trade Date entry. 03/24/2008 Entry price: $38.10 Stop price: $37.75 Target area: $39-40 areas Exit date. 03/24/2008 Exit price: $38.95 % results: 2.23 Result: $0.85 Risk/reward: 2.43 Setup chart: http://www.ivicacharts.com/diagrams/2008/03242008prgo.jpg Trade explanation: It was classic day trade. Move-rest-move. We used 10sma bounce possibility for trend continuation and for equal move target area. Breakup pace and volume was strong and that was enough reason that we expected target area. PRGO has room for $40 area but last week market action didnât supported more trend continuation. I think that is very clear trade. Exit chart: http://www.ivicacharts.com/diagrams/2008/03312008prgo.jpg Watch ideas for Monday Long http://www.ivicacharts.com/diagrams/2008/03312008x.jpg http://www.ivicacharts.com/diagrams/2008/03312008pg.jpg Short http://www.ivicacharts.com/diagrams/2008/03312008bucy.jpg http://www.ivicacharts.com/diagrams/2008/03312008agu.jpg If anyone will have any comment or question please feel free to contact me. Kind regards Ivica Juracic
ICE long above: 127.40, stop under: 146 (148.50), target: 170-175 ST Next earning date: May 02, 2008 http://www.ivicacharts.com/diagrams/2008/04172008ice.jpg If anyone will have any question please feel free to contact me Good luck
Chart of the week Symbol: VUG TRADING PLAN Entry price: above $62.07 Stop price: under $60.83 Target area: $65-66 areas Chart explanation: VUG consolidates under 200sma resistance on the daily chart which mean tendency for break up. Also it formed weekly continuation pattern what giving us good risk reward possibility. Setup is above last week high with stop under last week low what usual continuation pattern trading plan is. VUG has room for move up and daily equal move and that will be expectation. Kind regards Ivica Juracic ivica@ivicacharts.com http://www.ivicacharts.com/diagrams/2008/04282008vug.jpg
Watch ideas: for 05/05/2008 Long: RIO next earning date: Jul 31, 2008 http://www.ivicacharts.com/diagrams/2008/05052008rio.jpg ARRS next earning date: Jul 24, 2008 http://www.ivicacharts.com/diagrams/2008/05052008arrs.jpg ALL next earning date: Jul 23, 2008 http://www.ivicacharts.com/diagrams/2008/05052008all.jpg Short: BJS next earning date: Jul 24, 2008 http://www.ivicacharts.com/diagrams/2008/05052008bjs.jpg MAS next earning date: Jul 31, 2008 http://www.ivicacharts.com/diagrams/2008/05052008mas.jpg If you have any questions, please email me or ask me in the trading room. Good luck trading today!!!! Ivica Juracic
Chart of the week (free article) Symbol: MDC Sector: Industrial Goods Industry: Residential Construction TRADING PLAN Entry price: above $46.17 Stop price: under $43.12 Target area: $55-56 areas Chart explanation: After weekly downtrend, MDC consolidate and forming reversal pattern. On the weekly chart consolidate under 100sma resistance area and I will look for breakout and for move in to 200sma resistance area. It can turn to position trade. For stop I will use 10sma. We want see strong breakout with higher volume what will be indicator for buying interest. First resistance will be $50 as number and previous high and in breakout possibility we will see behavior at that area. Note that action can be whippy so we need to use proper stop. For start will be under last week bar. http://www.ivicacharts.com/diagrams/2008/05052008mdc.jpg Kind regards Ivica Juracic