A little chart analysis for discussion, hopefully some
disagreement: I would not get into JD at this point because it's in
a down trend and it has not yet tested the 50dma from below. With
today's high coming near the open then immediately reversing down
intraday (never a good sign in a bear market), and possibly setting
up a lower high on the daily, I don't see this as a great trade
going forward. Am I too pessimistic?
Roger...JD gapped at the open and thus no reason to consider.
It was a trade idea on the break of trendline and gapped and
thus no trigger. Much like the overall market..gap and fade.
A little chart analysis for
Posted by frtaylor on 1st of Oct 2015 at 11:14 am
A little chart analysis for discussion, hopefully some disagreement: I would not get into JD at this point because it's in a down trend and it has not yet tested the 50dma from below. With today's high coming near the open then immediately reversing down intraday (never a good sign in a bear market), and possibly setting up a lower high on the daily, I don't see this as a great trade going forward. Am I too pessimistic?
Roger...JD gapped at the open
Posted by steve on 1st of Oct 2015 at 11:18 am
Roger...JD gapped at the open and thus no reason to consider. It was a trade idea on the break of trendline and gapped and thus no trigger. Much like the overall market..gap and fade.
Pretty much the way I
Posted by frtaylor on 1st of Oct 2015 at 11:23 am
Pretty much the way I looked at it, but just felt like thinking through broader considerations like trend direction and MA's.