Since ITRI has come down and filled yesterday's gap, isn't that
a good entry point for the trade? If so, what stop would you
consider? Any input would be great - thanks folks.
frtaylor - the pullback has been on light volume (after forming
a shooting star) with stochastics overbought on daily. When
considering re-buying you need to go to the shorter term chart and
look for a trigger.
Okay - then I need help w/ the trigger. I would be holding
for a few days, so would the trigger be something like the 60
period stochastics on the 60 min chart to bounce off the 50% area?
That's just a plain guess. If not, what would you recommend? Thanks
for helping.
frtayor - yes ITRI has pulled back on lighter volume,
which is good to see and has filed the gap from the other day, as
far as triggers it depends. I would watch say a 5 min chart
to see if volume came into it on the upside, and any positive
divergence formed, also keep an eye on 15 min charts etc. So
far the pullback has been on light volume but if the market does
decide to pull in and volume increases on the downside, then I
would pass. There is also the MA's below (20/50) would like
to see those act as support on a pullback.
Otherwise mind the market as well. We've had about 100
Long ideas for the month of Sept with most of them breaking out,
it's been a fun month for trading breakouts! However in the short
term I'm a little pickier here and plus it's Friday, I like to ring
the cash register on Friday and lighten up.
ITRI - a good entry point? need your help
Posted by frtaylor on 1st of Oct 2010 at 11:06 am
Since ITRI has come down and filled yesterday's gap, isn't that a good entry point for the trade? If so, what stop would you consider? Any input would be great - thanks folks.
frtaylor - the pullback has
Posted by steve on 1st of Oct 2010 at 11:11 am
frtaylor - the pullback has been on light volume (after forming a shooting star) with stochastics overbought on daily. When considering re-buying you need to go to the shorter term chart and look for a trigger.
Oops, you said shorter term
Posted by frtaylor on 1st of Oct 2010 at 11:23 am
Oops, you said shorter term chart. So, did you mean 15 min chart or 5 min chart? And what would the trigger then be? thank you.
Okay - then I need
Posted by frtaylor on 1st of Oct 2010 at 11:15 am
Okay - then I need help w/ the trigger. I would be holding for a few days, so would the trigger be something like the 60 period stochastics on the 60 min chart to bounce off the 50% area? That's just a plain guess. If not, what would you recommend? Thanks for helping.
frtayor - yes ITRI has
Posted by matt on 1st of Oct 2010 at 11:30 am
frtayor - yes ITRI has pulled back on lighter volume, which is good to see and has filed the gap from the other day, as far as triggers it depends. I would watch say a 5 min chart to see if volume came into it on the upside, and any positive divergence formed, also keep an eye on 15 min charts etc. So far the pullback has been on light volume but if the market does decide to pull in and volume increases on the downside, then I would pass. There is also the MA's below (20/50) would like to see those act as support on a pullback.
Otherwise mind the market as well. We've had about 100 Long ideas for the month of Sept with most of them breaking out, it's been a fun month for trading breakouts! However in the short term I'm a little pickier here and plus it's Friday, I like to ring the cash register on Friday and lighten up.
Great, thank you. Did you
Posted by frtaylor on 1st of Oct 2010 at 11:42 am
Great, thank you. Did you mean the 20 & 50 MAs on the daily chart or on the 5 or 15 min chart?