Chart explanation: I like EXPD for long continuation based on daily triangle and odds for bounce from 10sma support area. First resistance is previous high. We can use trading plan based on daily triangle (swing trade), but also we can use 15/30 min consolidation (day trade) what can turn to swing trade. I like to use that possibility to increase risk reward but for that I must see open at Monday and see if I can use day trade trading plan or swing trade trading plan.
Chart of the week Date: 03/22/2010 Symbol: MED TRADING PLAN Entry price: short under: 24.31 Stop price: stop above: 26.80 Target: open for now Chart explanation: I like weekly bear flag for MED. Closed with pivot bar under 20sma and buying pace is weaker then initial move down pace . Because of that I will look for selling conti9nuation. Previous low and 50sma is first support area. Expectations will depends on selling pace and volume. If anyone have any question or need update feel contact me Wish you all good trading!!! Kind regards Ivica
What are the five MAs you are using? I know the 20 and 50 by your reference above, what are the others and do you use the same ones on all charts?
for intraday charts like; 5/15/60/120 min I'm using 10/20 and 200sma. For daily, weekly and monthly I'm using; 10/20/50/100 and 200sma Ivica
Chart of the week Chart explanation: WYNN formed continuation pattern on weekly time frame, but also we can see that consolidate several months under and that small weekly bar is trading plan. On the daily chart it is triangle and need to stay above 10sma what will be stop. In case that market will start with exhaustion move what I described in market commentary I believe that WYNN could follow it and monthly time frame chart support that possibility
Chart explanation: Idea is daily continuation pattern and weekly 200sma is around 32.50 areas and because of that I will use it as target area. If market will continue with strength then I believe ADSK will see target area with good risk reward. Trading plan is based on Friday high/low.
Chart of the week Chart explanation: HOLX trying to bounce from weekly 10sma after move up and consolidation. On the daily chart that is cup and handle and handle is my interest. I will look for HOLX to back at previous high and depends on action (pace and vo9lume) I will see if HOLX can reach weekly 200sma what will be final target area.