To trade a descending triangle first of all you must spot one that is clear formatted. The clear formation of the upper line is more important than the clear formation of the lower line. In case that the upper line, which is basically the trendline in a downtrend, is not clearly defined then it is […]
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Entry time: 10.35 EDT on Monday October 15. Exit time: 11.56 EDT on Friday October 19. Trade duration: 4 days. Entry price: $28.26. Exit price: $29.29. Strategy: Reversal long. Net profit: 1 dollar/share. Sometimes, someone can find a very promising pattern but various market conditions can spoil the trade. Although this was a winning trade […]
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Entry time: 10.59 EDT. Exit time: 11.24 EDT. Trade duration: 24 minutes Entry price: $34.16. Exit price: $34.56. Strategy: Reversal long. Net profit: 36.50 cents/share. Criteria for taking the trade: 1. The market is in uptrend in the short term (SPY daily chart below). 2. The intraday 5 minutes chart of SPY is also in an uptrend (below). […]
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Entry time: 10.49 EDT. Exit time: 11.46 EDT. Entry price: $23.71. Exit price: $24.15. Strategy: Reversal long. Net profit: 41 cents/share. Criteria for taking the trade: 1. The market is in uptrend in the short term (SPY daily chart below). 2. JCP has visited a strong support (daily chart below) and it stopped exactly at its lower point. The possibility […]
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Entry time: 09.46 EDT. Exit time: 09.48 EDT. Entry price: $34.97. Exit price: $35.28. Strategy: Reversal long. Net profit: 27.50 cents/share. Criteria for taking the trade: 1. The market is in uptrend in the short term (SPY daily chart below). 2. CBI has visited a strong support (daily chart below) and it was hovering about 15 cents above its […]
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Entry time: 09.49 EDT. Exit time: 10.09 EDT. Entry price: $28.10. Exit price: $28.44. Strategy: Reversal long. Net profit: 30.50 cents/share. Criteria for taking the trade: 1. The market is in uptrend (SPY daily chart below). 2. This day SPY began with a gap up and the sentiment was generally bullish (SPY 5 minutes chart below). […]
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Entry time: 14.11 EDT. Exit time: 15.15 EDT. Entry price: $24.85. Exit price: $25.28. Strategy: Reversal long. Net profit: 39.50 cents/share. Criteria for taking the trade: 1. The market is in uptrend (SPY daily chart below). 2. This particular day SPY began with a gap up and the sentiment was generally bullish (SPY 5 minutes […]
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