seine
Long

GILD - ready to bounce from 200 ma

NASDAQ:GILD   GILEAD SCIENCES INC
288 14 7
NIce setup

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GILD happens to also be at the back of trend line support that once was resistance AND on a trend line at the same time.
GILD WEEKLY TREND: SIX REASONS WHY I BOUGHT GILEAD SCIENCES
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It is not quite inside my buy zone a few cents away, because it is right under the trend line. The approximation is so close that I think that it was a good entry point.
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seine Rocketman
i like your buy zone. if it falls that much, i would definitely buy it.
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You said that you want more volume coming in. Well, some traders say that since there is low volatility on the daily, then put a tentative put a buy stop order on the highest high of the small range and low volatility candles, which in this case would be on March 13, 2015 @ $100.97 (but this is too close to the 200 day moving average on an hourly chart, and traders probably won't want to buy near that, but wait for a pullback on an intraday chart. If it breaks above $100.97, then I would wait until some pullback on an intraday chart, as well. If I am lucky, and it does go to the buy zone and hits that blue line, then I will wait for a 5 minute and/or 15 minute signal to get in.

Tomorrow @ 2pm,, do you think that the FED will raise rates or imply that they will be quick to raise rates sooner than expected? I think not. I think that whatever they say will kick those traders out of the bullish dollar and make the dollar pullback. Then, like a rubber band, snap the SP500 back up, and (crossing my fingers) snap GILD up as well. I don't know.

That is my opinion of the FED and the markets tomorrow, but I could be wrong. What do you think? What brought you to look at GILD?

On an hourly chart, it seems to be following that green positive sloping trend line; that is, making one lower low and one higher high. But, if it dips down to that buy zone, I am willing to catch it, but if the FED is going to raise raise...then crap! !! I will be reluctant to squeeze the trigger. All I have left will be this technical set-up on GILD that looks good because of the small risk-to-reward ratio and close support; however, maybe if wouldn't be a bad idea to try it anyway regardless of what they say, huh?
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seine Rocketman
is there any point of guessing what fed is gonna do? does following fed going to make us a better trader? i see the price there at support. unless the market gaps down 10% overnight, i will be out with small loss if i am wrong. :)
I don't listen to the news, so i really have no clue what the fed is gonna do. i don't know what is their criteria of raising rates or not. I see no point in listening to the fed..whatever they do, the market will react and the price will show. MOst of the time, heck at all times, news are just a bunch of noise. I try to avoid it.

Gild was in my watchlist. and i was just going through them.
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Charts will reflect the information available to all market participants if the timeframe is right...example: you will rarely get whipsawed out of a trade trading daily charts vs trading 5m forex during the NY session.
I use news to predict momentum/volatility and I think it's a good idea to watch an economic calendar and understand more or less what the fundamentals say.
Technicals are first for me, but fundamental analysis and knowledge is important as well.
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seine IvanLabrie
yeap apply technical to fundamentally sound stocks. it simply reduces the risk.
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EURUSD: Time to go short

Momentum timer...major news events = impulsive move IF technicals permit it.
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Rocketman PRO IvanLabrie
I like Seine's approach in terms of applying our technical analysis to fundamentally sound STOCKS. It reduces risk, indeed. This is difficult to do with currencies without margin! You both are right, how whatever happens can be seen on the SP500 index chart and trade accordingly.

For 24hr/7days per week FOREX market, IvanLabrle, you need to understand the daily fundamental effects on currencies and have a global perspective to make mid-term projections (if you are not a day trader). I use to trade currencies, but I just like looking at the 9:30 am-4 pm US stock market and how world-wide events affect it. The hours are nice too, and I am forced to stop because I love the markets too much.

IvanLabrle, you seem to be BUYING the dollar and selling the EURO. Since you like merging the economic fundamentals with your forecasts as much as I do ("Putting a face or personality with the charts"), then what do a lot of FOREX traders think about the FED for 2pm on March 15, 2015 (tomorrow)? Raise or not raise rates?

Then, you have to determine which currency pair EUR/USD or USD/JPY to trade the best that day. For that reason, despite less liquidity than the FOREX, this is why I trade US Stocks. I can buy DISNEY, COCA-COLA or Alibaba instead of exchanging dollars for another currency. It is more fun and easier to forecast one years out from today.
+2 Reply
seine IvanLabrie
euro will keep falling till parity.
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Did you buy GILD? :) I bought around the same price one of the "insiders" of the company bought. :)
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seine Rocketman
yeah i did. everything i post here are my own trades :)
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aziz92 seine
Hi Seine,
If you dont mind me asking, where was your stop loss on this trade? When trading with EMAs, i always have trouble identifying best area for stop loss.
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seine aziz92
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For stop loss, i look for support areas and simply put a stop below it. to give more room to fluctuate i subtract 1-2 dollars just like in this case. Some traders use ATR so that it automatically adjust for volatility. You could try 2*ATR for stop loss. i hope this helps.
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aziz92 seine
Makes sense. Thanks.
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