| Technical Analysis Day Trade Setups Weekend Updates 2 |
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| Saturday, January 20, 2007 |
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Weekend Update - Short Term Trades - Reverse Symmetrical Triangle Setups BAP & WYNN
During a typical 5 day trading week at Trending123, I will normally come up with a handful of short term trades to enter for sudden profits. This is week 2 of our short term trade setups. This week, I want to give you a handful of some stock charts to study in advance. Which will be great, because I really enjoy playing a handful of short term trades for "sudden profits". These are charts of some possible some short term trades that we will enter and play over the next two weeks. The stock market returns to its normal 5 day trading week starting January 22nd. Please read the section that defines Bull flags at the top of the page above the charts.
What defines a short term trade?
A short term trade is one that is held for less than two weeks with a possible price gain of 5%, 10%, 15% to 20%. You may use an equity or an option for these trades.
Patterns used for short term trades :
- upside breakout pattern
- bull flag pattern
This is what you need to know about each stock in order to prepare for the trade diligently before each buy trigger / entry:
1. What is the stock's ticker symbol
2. What is the stock's average daily volume
3. How far is the stock above it's EMA moving averages (i.e.: 13 EMA, 34 EMA)
4. What' is the stock's short ratio
5. How far is the stock off from it's recent highs (i.e.: -1%, 5%,-10%,-20%, etc)
6. What pattern is the stock in on the daily chart
7. What Type of Tend is the stock in (i.e.: bullish or bearish )
8. What direction is the stock in up or down?
Trading Journals - Use these to keep track and monitor your Trades
- The original Trading journal sheet: http://www.trending123.com/short-term-trades/trading_journal.htm
- If you want another trading journal format to use other than the one I issued, you can right click on the image found below and copy/paste it to your documents and print it out and use it instead.
- Long live the Organization for the Organized!
Short Term Trade Reverse Symmetrical Triangle Setups - BAP and WYNN
Credicorp Ltd. - Not Optionable
WYNN RESORTS LIMITED - Optionable
See you on 1/21/2007 - Sunday Afternoon at 2pm EST for the live Seminar in the trading room regarding these setups.
Edited by Daisy
Andrea Victoria Friend aka Daisy
Editorial Assistant for Trending123.com
daisy@trending123.com
BAP--(RST and does not trade options this is one of my favorite RST plays)
WYNN (This is a possible bull flag within a topping triangle pattern, this is a short and long play) we might take both sides
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