Utilizing the T&B indicator and the Snapback indicator for a Setup seems a bit more promising.
Snapback shows the overheating, T&B shows the momentum shift.
I will work on a putting together a strategy and rules. If theres potential to make money, will go live.
Sorry, I forgot who asked the question. Thanks a lot. And please identify yourself in the comment....
On the morning floor session on Mar 18, 2015 we had a discussion on what a High Of Day (HOD) Retest looks like and how it compares to a HOD Breakout. Candle 1 defines the first HOD. Candle 2 is a HOD Breakout, but the two candles after it show that new support and resistance are quite far apart and that old resistance (HOD) is not new support. Candle 3 is the...
I will start by saying that I believe manners are important. It is a shame that so many people have forgotten they exist.
I want to thank the requester of this chart, a complete stranger, for using his manners :)
Let's move on the the request for a chart of AAL.
Back in late 2013, AAL (the stock) was just getting started. The stock created a double bottom in...
AAL expected to open at 50.65 for a Retest Gap. Could be a bearish break away gap for a swing trade. To learn to trade this strategy for free, go to www.RealLifeTrading.com
Price had hard time to push above the red zone, main over head resistance, and we see a good chance to see $41 before we breakout a new high for the year. If you need real time alert try us www.2waytrading.com
AAL is looking like it is on track to drop to between $28 and $25 per share middle to end of October (before the earnings report). As the head and shoulders pattern has been completed (passing an averaged neck line : $36-34) and then continued downward, I believe it is a strong position to assume the bottom will be reached soon.
Even if the price falls below $25...
American Airlines hasn't really flown any friendly skies in this chart... Lots of volatility, but chart is very discernible & predictable. I think very nice swing opportunity long swing opportunity will present itself around 33.35
