I got stopped out below horizontal s/r level today. Looking for my lesson now.
I typically do not re-enter trades on the same symbol after taking a loss, as the stop tells us when we are wrong.
However, I think I could just as easily flip my bias now and get short when it pokes above the s/r value as it inevitably will. How far the poke will go is the...
Much like the ABCD pattern or lightning we have a 3 drive pattern in $APPN (3 equal length drives) , will be switching over to lower time frame once alerted in this PRZ zone (Price reversal) This is very similar to many great traders mean aversion set ups. Kristjan Quallamaggie on twtr made millions off that pattern, he plays long and short, he always says its...
I know I've said in the past that I aim for stocks with a market cap of 15B higher. However if the dividend yield is below 2% and the beta is greater or equal to 1, I can compromise.
looks like a solid swing trade here if pink channel breaks out, curling RSI, volume building up, load zone is 140-170 and price targets to unload are 220-240!
The gartley isnt perfect but the .786 reversal is nice. The HBD on both MACD and RSI looks good too. Not getting in at the bottom, but if you target A the R/R still works out.
Staircase pattern should have brought the second leg up to $300. Oversell because of the weak market should result in overbought territory as drawn in the green triangles .
- Be cautious for more downside due to the markets rolling over, further downside can destroy this Technical Analysis
This was brought to my attention by fellow trader.
I love the bull pennant, the MACD, stochastic and ATR are all in good positions.
Would grab calls and hold for 1-2 days.
APPN looks great as it consolidates on the 10-day moving average. This stock was a beast in November but has gone quiet recently. Really nice risk/reward if we get a breakout before earnings.
