Dear trader,
I like to write few words about market. After Europe news indices gaped up and stayed strong for rest of the week. If we look weekly time frame charts there are room for more upside action next week, but after long scanning over weekend it was really hard to find low risk chart for new setup right now. Many day time frame charts are extended and we all know that for low risk setup we need to see pattern. I found LNKD and V as interesting daily chart and also intraday setup possibility but I like to note that It will be risky to take them right after open. I like to wait at least first 5 min to see open action. We saw many gaps open last days and because of that use LNKD and V only if they won’t open with gap, in any other case I will send email update or I will post it in the live trading room. For possible short side I have several ideas and I was separate DRIV and MOS. I like MOS for swing as daily CCI divergence and 50sma daily reversal possibility. That will be in case those sellers will come out. I still think that patience is very good friend of use and I will use it. I don’t have strong bias and I will just follow market action so we will see. In day’s like that it is very good to scan for weak and strong intraday charts and compare them with market action and they use them depends on direction.
I truly hope that all this have sense what I tried to explain. Here are ideas what I like to show you:
Wish you all great trading day
Ivica
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