As a trend trader I like to trade trends.
EURUSD is devoid of any trend and has been trading within a range for a while as can be seen on the weekly chart. Will wait for a good set up based on low risk or a breakout on the daily.
AMAT is a stock that has been mentioned in our trading community a fair few times. It has been trending well but hesitating around the $30 round number.
Support is just over $1 away so a tighter trailing stop may be required to lock in profits for the Dynamic Traders who have positions in this.
Exxon is dealing below the figure 90 and just below the weekly 200 MA. A further breakdown here may offer short opportunities but if price starts dealing above the 200 MA and 90 figure then we will stand aside until a break of the resistance zones.
Just below the figure 9, AUDUSD weekly price action formed a bearish flag top with a Doji. Since then price has continued the downward path and now approaching the support zone based on 2010.
A breakdown from here could lead to further weakness but if price reacts at this zone and moves above the upper RTC then it may bounce and find near term ...
We have multiple short positions open on EURUSD for some time and will look to add to them if price continues to trend downwards. However, at the moment price is in a consolidation and so we will wait for a breakdown of the recent low before committing any further funds.
If price deals above the resistance zone then we may consider exiting our positions but for ...
LUV has been one of our best performers this year but the recent pullback meant all our positions were exited. After every big move we will often see a consolidation. If price breaks out of this range then we may consider entering into this stock again if a new trend emerges.
For the moment, we will wait and watch.
FISV has been another favourite of Dynamic Traders. The weekly trend has been consistent for over a year and price has now broken out of resistance after recently bouncing from the 200 day moving average.
It is worth noting how the weekly bar will end.
Costco has been trending up for a while and this is why we do not fight the trend. It is far simpler to trade the direction of the trend than against it.
Price has broken through resistance on both the weekly and daily chart and dealing just above 130. If price can stay above the daily resistance then we may have a but candidate again since the pullback started ...
Apple recently broke through resistance after a gap above $100. We are waiting for a continuation pattern before entering a position on this but the trend is certainly bullish.
Next Earnings is January 27th 2015 after market.
CIB has found support recently from a previous level on the weekly chart but on the daily it is at the trendline resistance.
We want to wait for price to make a decision (breakout of trendline or breakdown of support level) before considering a new position on this stock.
Earnings are due next week so this is another reason to wait for price to make it's move.
FDX is another one of our preferred trending stocks and has been discussed in our private forum a few times.
Price broke out of the regression trend channel almost 2 weeks ago and continued to trend upward. Yesterday price closed above the resistance level and this has now been placed onto our bullish watchlist.
Wewill wait for a chart pattern to set up any long ...
DPZ was originally mentioned and discussed on October 14th after the gap up on Earnings. Since then price provided a continuation pattern and moved up another $4.
Resistance is likely to be around $90 and if price moves beyond that then the $100 resistance is likely to be a good obstacle.
As a trend trader, I follow the trend which at present is clearly up but ...