First off, please note that I am a swing trader. When I enter a position I am looking to hold anywhere from 1 day to 3 months depending on the momentum, but the average is around 7 market days for my hold time. Here are some quick bullet points on why I like this stock for this week:
-This sector (food and beverage) as a whole looks coiled and ready to go
-The weekly chart on COT is also looking strong in an upward trend and it is pulled back to the moving average.
-The price is beginning to move higher out of a squeeze which can make for some explosive moves higher
We believe in trading with the overall trend and the sector strength at our backs. This stock is a perfect example of a high probability setup that we are looking for! Lets see what happens this week!
-This sector (food and beverage) as a whole looks coiled and ready to go
-The weekly chart on COT is also looking strong in an upward trend and it is pulled back to the moving average.
-The price is beginning to move higher out of a squeeze which can make for some explosive moves higher
We believe in trading with the overall trend and the sector strength at our backs. This stock is a perfect example of a high probability setup that we are looking for! Lets see what happens this week!
Trade active:
Good first day in this trade. We will continue to ride this upward momentum and hope for continuation higher. This is setting up as a nice high probability setup for movement higher. With this market it seems like everything is a high probability setup!
Remember that anything can happen no matter how good the setup looks to your system. We will continue to trade what we see and as of right now, our system is telling us higher!
Remember that anything can happen no matter how good the setup looks to your system. We will continue to trade what we see and as of right now, our system is telling us higher!
Comment:
This is not the type of action we were expecting in this trade to say the least! However, we will not shy away from possible losers when we have them (that's part of the game). Right now this is now on the border of giving us a sell signal if it crosses the moving average with volume at this point. Right now you can see that the price closed right on that moving average so tomorrow will be make or break it day for this trade!
We will update tomorrow!
We will update tomorrow!
Comment:
This is playing out to prove why you need to have patience within your trading system. When a lot of people might have sold this trade, we hung on because we still did not receive sell signals and today we got a great bounce higher that is putting us in the green on this trade with the possibility for a great move higher.
Will update after the market closes on this trade of the week!
Will update after the market closes on this trade of the week!
Comment:
Patience is the key sometimes. Now we went from possibly selling our position in this stock, to now looking like we might catch a strong move higher as we hoped for when entering this trade. We will see what tomorrow brings for this position!
Best Of Luck!
Best Of Luck!
Comment:
Our Trade Idea of The Week had another green day today. It was a small day, but again we will remain patient as the weekly chart is coiled up and looks strong at this point. We still are in our whole position here going into next week. New trade Idea of the week for next week will be coming out soon!
Best of luck!