Stock picks for 03/07/2012
Dear traders,
I like to explain few things on DIA daily chart. I believe that you all see difference between buying and selling pace (selling pace is much stronger).
I will little back in the past and trading room activity. When we had buying pace I was every day repeat that risk is higher because pace is weak and when we have barely new high action then odds for sharp pull back will increase. I know that was frustrated time because every day was high risk and action was very weak without truly volume and confirmation. We where look for move down but every open gap finished with barely new high. I hope that you all seen that previous week I start to accumulate swing short trades in hope that we could see that correction. I like to repeat that I don’t want bear market and I’m not trader who will like to see crash, but I want to see pull back, healthy pull back what will give us chance for lower risk swing setups.
At Monday we had many open swing trades and if we look at chart right now that was good time to take positions. Yes, I know that was risk higher but if sharp pull back will come then we won’t have time for setup, it will be too late. Yesterday action gave us what we expected and I’m happy because you all send my style and my thinking in the trading room. But what is next? If we look at DIA chart we can see that is on the move and taking short trade for me is like come late on party or like jumping in to running train. I will tell in the room that new swing short setup at this moment is higher risk because I like to see day two consolidation (rest) for better risk/reward possibility. Of course that I can take DIA short under yesterday low but in that case for swing trade I need to have stop above previous high and that will be bigger stop, I will say maybe to high stop for me. Because of that for today I will look for possible intraday bounces and future swing trades. Of course that own way chart will give us chances every day and that is something different. If DIA will bounce near 60 min 10 or 20sma then I will look again for selling continuation. I want to note that we have open swing shorts so we can just wait and see what will happen, above explanation is for possible new setups. I hope my explanation was clear but if was not please feel free to contact me and I will give addition explanation.
Those who been with us in the live trading room (it is absolutely free) seen on what way I try to take that move and how I cut risk and increase reward. I explained most important things for my style and possibility for every trader to use live trading room activity. I gave trading plans for scalps, day trade or swing setups and reason how, where and why. I will invite you join us because it is not too late and here is how to do that:
In a period from 27th February to 12th March you can try our LIVE TRADING ROOM for 15 days WITHOUT CREDIT CARD REGISTRATION
Simply contact us to: ivica@xpertstocktrader.com and we will create your account for our LIVE TRADING ROOM
Benefits of Trading Room:
- Real time entry, stop and a possible target for each potential trade idea.
- Market analysis and risk management in real time.
- Members are able to post trading question regarding potential trades or just to augment their education.
Don't miss this unique opportunity, contact us and request FREE access to our LIVE TRADING ROOM (value $99)
Contact email: ivica@xpertstocktrader.com
For any questions feel free to ask
Ivica Juracic
Trader and Founder
XpertStockTrader.com
Nema komentara:
Objavi komentar