DerekD_
Long

$MU - Updated

NASDAQ:MU   MICRON TECHNOLOGY INC
Ima ACTUALLY have to change sides with this one. Typically, fundamentals + news + emotional trading, etc., doesn't blur the scope of a trade for me, but it did with this one. Ultimately, went over the semi-conductor sector as a whole & I'm bullish on a good 75% of the charts, $MU as well (wild how jumping in on a trade can blind your un-bias perspective). So lemme get on my bullshit & fix the mistake before I look like a spud. Typical flat bed dip (using my MA strategy). Occurs in a strong up-trend, white 55 (low) MA being ABOVE 180 WMA , while price tends to consolidate right above/below 180 WMA . Essentially, 20 EMA crosses below 45 EMA (while 45 EMA remains above all else). Since price is (currently) using low 55 MA as resistance ($53.66), I'd be a little skeptical to buy - only because with this type of setup where 180WMA rides the price' ass, I just have this conspiracy theory where algo's intention is to drive 55 (low) MA below the 180WMA therefore causing much more volatile swings (Dirty flirty setup, lol). <- With this though, BIG upside potential. I'll be sure to update if anything changes. Regardless, 223% fib A1 long target ($63.71). $50.69 is line in the sand, where $49.75 or so would be the dip to buy if all else remains the same.

Comments

Thanks! I'm new and would really appreciate if you could tell me the best resource to understand the basics of TA and charting the fib ect. Only 1 month of experience just watching You tube and Jason Bonds teaching program. Could you help a guy cut through the affiliate marketing bull and let me know. I don't mind paying for proper education materials and the right tools. What scanner so you use? What trading platform would you recommend for a beginner.
+1 Reply
DerekD_ taylor325358
@taylor325358, Sure mane. & tbh, when I first started - I think the most I learned about TA was in the "Technical Analysis for dummies" book lol. Out of all the YT videos I watched, I don't think many of them taught me the core concepts of technicals, but WarriorTrading on YT was definitely a favorite if you're looking to get into day-trading. I definitely recommend ToS (Think or swim) platform - they have a paper trading (practice trading) function built into the platform, but other than that, I use ETRADE (I use ToS just to trade hypothetical, C+ or B+ setups just to stay on top of my game & see how it works). I only tend to use scanners @ the end of the day when I can find setups I like, or to get a glimpse of what is about to come up or be a big focus in the market - Just because it's hard to focus & make a solid trade if you're not completely sure about what you're getting into @ the moment. Good luck!
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