This video provides analysis of the gaming sector via BJK, VanEck Vectors Gaming ETF and the airline sector via $XAL (Amex Airline Index) as well as some of the individual stocks within those sectors that appear to be setting up as promising short-side swing trading opportunities as well as a few potential long-side trading opps. Long trade ideas will follow in a separate video.
GOL will be considered stopped out and moved to the completed trades category as it fell back below the uptrend line yesterday and continues to move lower today.
GOL breaking above downtrend line here, triggering a long entry. targets market but personally i will stop out if prices close back below the uptrend line today.
the GOL long reversed shortly after breaking above the 60 minute downtrend line and i have moved it from the active trades category to completed trades. keep in mind that due to the sheer number of trade ideas that i post here, i can't always post updates every trade that triggers. as my profit target(s) on each trade are usually clearly defined, i will most often update charts on winning trades as they play out and hit or approach each target. however, as stop levels are highly subjective depending on each trader's risk tolerance and trading style, i often don't update [...]
GOL could be good for a quick 7% from current levels as it has gapped above this 60 min downtrend line today and could fill that gap to the 6.48 area in the next few days. an idea stop would be under the 5.99 area which gives this trade about a 6:1 R/R (risk/return ratio). again, be aware if taking any longs at this point, that the primary indexes are sitting right on or just below resistance so depending on how a trader is currently positioned, he/she could be objectively adding shorts here at resistance, with stops not far above or [...]