Here's a few trade ideas, the first 2 may be close to a break or
reversal very soon, and 2 to watch for a similar result in
the coming week(s).
MGM looks like it's ready to break above the triangle,
or reverse here at resistance. QID appears to be in a bullish
falling wedge, or could break below support if the market
continues to rally.
SO's 60 period sto has been above 80 for 2-3 weeks, but the
trend appears to be weakening, with several smaller candles
recently, and a doji today. Drew a lower trendline to
see if it breaks below that, also drew fibs on the chart, and look
for the 60 sto to break below 80. The upper line isn't a
trendline, just how freestockcharts.com shows the fibs
retracements line from the bottom in July to Thursday's
possible top. It's possible SO broke out and
isn't pulling back soon unless the market really
tanks. AA is approaching the top of the range, see if it
breaks above it or stops and reverses at resistance.
Title: Some Trade Ideas -
Posted by curtis on 10th of Sep 2010 at 05:07 am
Here's a few trade ideas, the first 2 may be close to a break or reversal very soon, and 2 to watch for a similar result in the coming week(s).
MGM looks like it's ready to break above the triangle, or reverse here at resistance. QID appears to be in a bullish falling wedge, or could break below support if the market continues to rally.
SO's 60 period sto has been above 80 for 2-3 weeks, but the trend appears to be weakening, with several smaller candles recently, and a doji today. Drew a lower trendline to see if it breaks below that, also drew fibs on the chart, and look for the 60 sto to break below 80. The upper line isn't a trendline, just how freestockcharts.com shows the fibs retracements line from the bottom in July to Thursday's possible top. It's possible SO broke out and isn't pulling back soon unless the market really tanks. AA is approaching the top of the range, see if it breaks above it or stops and reverses at resistance.
Some nice charts here! By the
Posted by vimal on 10th of Sep 2010 at 05:10 am
Some nice charts here!
By the way , I have PM'd replies to you several times ref: $RUT, but there must be technical issues either with my outbox or your inbox.
Hopefully these will get resolved soon
Wedge patterns by the way are a fantastic play especially when confirmed with some other indicators