Buying here at 113.54 on a ~8% pullback from new 52wk high made about 3wks ago. Looking for 120 target. Using a ~112.50 stop on this one. Worth the Risk v Reward
Trade : xdaystogo.com
Last quarter, the 9-period crossed the 21-period MA (on the 240-min chart) in a bullish manner and the stock rallied and snapped lower only to rally into earnings. I like the stock to repeat history and move toward $107 soon.
Sometimes I see stocks recommended on national TV coverage and I would bet that people rush out and buy on these "tips".
I watched as-CME was recommended. I just couldn't think of any reasons why.
CAVEAT EMPTOR is a Latin phrase that means:
"The principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase...
It dawned on me quite a long time ago that simple trend lines and Fibonacci retracement levels are the best tool for people who are afraid of elevated risks and are not looking for big profit. This is usually the case for calm speculative traders with a modest appetite and mid-term investors. As for today’s trends, just look what Fibonacci retracement levels...
This is a follow up to my CME short chart which was a mistake in the first place. I explained on the chart how a failed divergence was a bullish signal. The mistake was entirely mine, and all the signals were there.
Here is the weekly chart which was bullish at the time I took the short trade
CME has a high accuracy when it comes to divergences. You can look back and check some of them. We have a class A bearish divergence at an important resistance area, 77-78$. The Weis Wave shows a change in behavior, but following that selling volume, we had strong buying volume, and the progress wasn't minimum, so the pattern here is debatable. Cme likes trading...
The chart is very messy, so I will walk through everything I've drawn.
1. A weekly H&S pattern, it's clear on the daily too. Target about 60$. A weekly close below 68-69 would confirm the pattern.
2. After a lateral movement since the start of the year, CME broke the rectangle and retested it.
3. Look where the last retracements ended, at 50% of the...
