Comments on: Swing Trade Updates 1-9-23 https://rightsideofthechart.com/swing-trade-updates-1-9-23/ Stock Trading, Investing & Market Analysis Wed, 14 Jun 2023 16:12:30 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: rsotc https://rightsideofthechart.com/swing-trade-updates-1-9-23/#comment-25879 Tue, 10 Jan 2023 14:41:18 +0000 https://rightsideofthechart.com/?p=210204#comment-25879 In reply to Mikeflegel.

If things go the way I suspect they might this week, we should see QQQ rally up to that 280 target by tomorrow. If so (a big IF, of course), AND the charts confirm at the time (divergences, etc.), that would be an objective level to close longs & go short for a pullback based solely on the technicals.

Of course, QQQ might not rally up to 280, or it does but it does so after the CPI report on Thursday AM. As of now, that’s my preferred scenario & trading plan but if things play out much differently, I will have to adjust.

]]> By: HermonMunster https://rightsideofthechart.com/swing-trade-updates-1-9-23/#comment-25877 Tue, 10 Jan 2023 14:03:37 +0000 https://rightsideofthechart.com/?p=210204#comment-25877 In reply to HermonMunster.

Lastly, natural gas futures are just above a trendline around $3.62. Also, it’s common for the price to break out of a downward trendline, and then retest the trendline from above before taking off. This is giving me more confidence in taking a starter position when the market opens

https://i.imgur.com/GDbwSlx.jpg

]]> By: HermonMunster https://rightsideofthechart.com/swing-trade-updates-1-9-23/#comment-25876 Tue, 10 Jan 2023 13:46:49 +0000 https://rightsideofthechart.com/?p=210204#comment-25876 Quick note on UNG. I got out yesterday with an 8% gain. My target was about 2.75% higher, but the price moved to within 1% of my trendline at $13.26 so I raised my stops to lock in profit.

This trendline goes back to Feb 2020 and has been bounced off of (up or down) at least 30x.

It was a good location to consider lightening a position or just getting out. Yesterday’s gains are gone in pre-market.

I’ll be getting back in today. in the 11.70s if possible.

It’s a struggle, but the goal is to ride the wave and move on to the next one, like a bee buzzing from flower to flower. The good thing about UNG is that reverses quickly and explosively, so sometimes only patience is needed if the chart hasn’t blown up.

Another positive for natural gas is that it’s an essential commodity. Life as we know it can’t be lived without it. The price will go up and down but never to $0.

https://i.imgur.com/CqF3uLX.jpg

This second screenshot shows the hits on the trendline over the last 2.8 years.

https://i.imgur.com/fyaf9Z4.jpg

]]> By: Imadaytr8r https://rightsideofthechart.com/swing-trade-updates-1-9-23/#comment-25875 Tue, 10 Jan 2023 05:32:21 +0000 https://rightsideofthechart.com/?p=210204#comment-25875 In reply to HermonMunster.

I sold my TQQQ at the top and was happy with my gains as well! :-)

]]> By: Mikeflegel https://rightsideofthechart.com/swing-trade-updates-1-9-23/#comment-25869 Mon, 09 Jan 2023 23:03:26 +0000 https://rightsideofthechart.com/?p=210204#comment-25869 In reply to HermonMunster.

I would echo that comment. Randy I wanted to make one thing clear in my mind if you would. On the 1 hand you said you would be out of the market or short for the CPI. On the other hand you said You thought the number would be soft and the market would rally. I wonder if you could comment on that period thank you

]]> By: HermonMunster https://rightsideofthechart.com/swing-trade-updates-1-9-23/#comment-25865 Mon, 09 Jan 2023 21:40:12 +0000 https://rightsideofthechart.com/?p=210204#comment-25865 Good call Randy on the first video of the day.

I checked the charts for QQQ and and then went to a 1min chart on TQQQ. There was a divergent high so I purchased some SQQQ for a day trade. Closed out with a 5.2% gain.

https://i.imgur.com/yEXDDwJ.jpg

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