Finally a pull back in the Market out of that "Rising Wedge" pattern that i have mentioned in last blog.
SPY has layers of support below, it manged close above 8 EMA 198, through that next support 197.5, 195 and big one 193.50 area. Energy names finally retreated after extended run. If you follow me on Twitter, I posted this on Monday night.
We had our gap down on energy names so we were executing our game plan via shorting the 1st spike on oil names at open.
Check out how nicely the trade payed out.
If you are struggling with your trading or learn how to trade you need to join our 60 day Bootcamp course. Our program is designed in such a way that you come out of it ready to trade live in just 3 months. We teach you everything from risk management to scanning to trading strategies. I also share my profitable intraday trading strategy which will make you money short term regardless of Market condition. The class is one of a kind, see why you should sign up for the course here . You will also have access to a private community where you can ask questions, share charts and talk with the instructors or other traders. You can also check out the testimonials from our students.Also if you are interested in our day trade alert services and chat room , take a free trial! Check them out here.Follow me on Twitter @szaman and on StockTwits @szamanCheck out our newest Offering "Bulls Vision" ! A brand new screen share product! See through the eyes of @kunal00 while he trades live everyday.[caption id="attachment_38309" align="alignleft" width="800"]
AMZN Our below 571 sort worked well. Needs to hold 200 MA now.[/caption][caption id="attachment_38310" align="alignleft" width="800"]
NVIV Parabolic short watch, ideally on a green to red type of move.[/caption][caption id="attachment_38311" align="alignleft" width="800"]
OMER Parabolic short watch on green to red type of move.[/caption][caption id="attachment_38312" align="alignleft" width="800"]
SM We had our 1st day pull. Watching again for a continuation short on a green to red type of move. WLL, CNQ CHK same setups.[/caption][caption id="attachment_38313" align="alignleft" width="800"]
TSLA Rejection candle on 100 MA. Watching for a short on a green to red type of move.[/caption]
