It started 2014 year as laggard and was trending lower in bear channel. But then it bounced off of 200 EMA with RedDogReversal, regrouped and have built higher highs. Finally, sentiment changed when it resolved this indecision area with break up of resistance at $88.60 with nice 4 days follow through. Traders should adapt and make adjustments if they want to survive and be profitable. Then, it built nice upper-level base and borke up again. After 3 weeks of consolidation it broke up to new highs.
MSFT put another record high, 8/21/50 EMA control price. Stocks like TSLA, INTC, FB, NFLX and even TWTR looks well and hold above 8 EMA, but no calculated setups here. AAPL broke up its descending channle as this stock was not interesting for traders last 2 weeks. Lets see if it can build above $91.35. High at $95.05 could be intermidiate target.
The Nasdaq, and all american indices are skating on very thin ice. You are just helping the smart money with the distribution process
andrew.berg
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And you helping people to loose money if you are expecting huge sell off in this type of chart. One of those fear mongers who afraids people and put doubts in their minds. After reversal day in S&P everyboy expected that it is a top and now we are heading for 10% pullback...but it covered those losses. So, what I am doing - i am judging price action with according to my thought process and knowledge about markets. So, that is how i have an edge. For huge sell off it should break 8/21/50/100/200 EMAs. If this scenario will be in case, then traders should react and adapt with plan.
vlad.adrian
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First of all I dnt help anyone do anything, I dont publish charts for other people, I publish so I can keep track of my evolution. Secondly, what do you mean 'for a huge selloff it should break the 200 ema' ??? Who said anything about a huge selloff? Do you see how far the 200 ema is?? It is almost 10% away. You are happy risking 10%? You think you need a serious selloff in order to lose money? Buying breakouts is not an edge brother, it is being part of the herd. In the long term this might rise, but if you would actually be trading you would know that timing is key, not the direction of the martket.
warmandfuzzy
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Exactly!
andrew.berg
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Nice :)
vlad.adrian
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Yes, be happy with your trade, obviously you didn't understand what I said. Continue to buy breakouts, you'll get on the bahamas beach sipping cocktails in no time